Please note that yesterday we published Special Report on Egypt recommending buying domestic bonds while hedging currency risk. Today we are enclosing analysis on Hungary, Poland and Colombia. I will present our latest thoughts on the…
In a webcast this Friday I will be joined by our Chief US Equity Strategist, Anastasios Avgeriou to debate ‘Sectors To Own, And Sectors To Avoid In The Post-Covid World’. Today’s report preludes five of the points…
A second wave of infections is now the base expectation for many medical professionals and investors. However, even if one assumes that this second wave materializes, it does not guarantee the same economic pain as we witnessed…
Highlights If policymakers can neutralize default pressures arising from the lockdowns, the lasting impacts of this recession may not be so bad: As Jay Powell put it on 60 Minutes several weeks ago, policymakers just have to keep…
Highlights Social unrest in the US is driven by structural and cyclical factors as well as election-year opportunism. It can still cause volatility. Unrest will weigh on consumer and business confidence – adding to already ugly…
Highlights Social distancing must persist to prevent dangerous super-spreading of COVID-19. The jobs recovery will be much weaker than the output recovery, because the sectors most hurt by social distancing have a very high labour…
Germany and Australia offer an optimistic glimpse into the outlook for growth among advanced economies. Along with New Zealand, they stand at the vanguard of economies re-opening after painful lockdowns. The service sector has…
Highlights There are no atheists in foxholes, and no Austrians ahead of this election: Republican senators and White House staffers may grumble about giveaways, but they cannot risk being painted as the Grinch who Stole Essential…
Feature The key to how markets will move over the coming 12 months is whether the coronavirus pandemic turns out to be a short-term (albeit severe) disruption to the world economy, or something more fundamentally damaging. Markets…