Allianz Research

Powering ahead:
Global Wealth Report 2025

US retail: A not so Black Friday for consumers

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.

Corporate credit: Life after policy support

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?

The middle-income trap: inequality across countries after Covid-19

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.