Dec 01, 2021

Global foreign exchange implied volatility has declined to a historically low level, led by advanced economies currencies (notably the EUR and the JPY). Central banks’ liquidity swaps have fostered such a decline by providing USD liquidity in times of stress. The presence of a CNY-factor in non-CNY denominated assets creates “hidden” opportunities as well as “hidden” risks.

Nov 25, 2021

China’s rapid economic development and dominant role in global trade has spurred a rapidly evolving financial system with an increasingly diverse and accessible capital market.

Nov 22, 2021

American consumers hunting for Black Friday bargains won’t find much in 2021 as supply remains tight, inventory low and discounts will apply to goods already more expensive. In fact, we expect consumers to pay between +5-17% more for toys, apparel, appliances, furniture, computers, sporting goods and TV sets compared to 2020.

Nov 18, 2021

Strong crisis support from central banks has triggered substantial inflows into corporate credit, keeping spreads anchored close to multi-year lows. But will a world without QE reverse the trend?

Nov 17, 2021

In 2020, Covid-19 narrowed the prosperity gap between rich and poor countries as the former were at first the most affected. But over the medium and long run, its consequences could hit emerging markets harder.

Nov 12, 2021

While the world is struggling to fight the Covid-19 pandemic, the number of people suffering from diabetes has kept increasing rather unnoticed. A further rise in the prevalence of diabetes could add 25mn people suffering from diabetes worldwide, causing a staggering EUR45bn of direct health costs per year.