Content (979)
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White papers
Pension Funds Letter 20 - Looking past short-term noise to the long-term
Our everyday lives are a succession of small decisions. Often unconsciously, we make decisions daily that ultimately influence our longer-term well-being. These range from the seemingly mundane, such as what will we eat, how much will we exercise, in what ways we use our spare cash, to the more significant around professions, relationships and savings.
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White papers
Central banks’ divergences in sight
”Differences in economic paths across countries may lead to diverging monetary policies, creating potential opportunities for global bond investors.”
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White papers
Gold has been shining bright this year
”Expectations of a Fed pivot to cut rates likely drove the recent, sharp surge in gold. Now, geopolitical risks and concerns over lack of fiscal prudence from governments could support the demand for metals.”
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White papers
Macroeconomic and financial market forecasts - March 2024
Macroeconomic forecasts as of 7 March 2024
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White papers
Macroeconomics, Geopolitics, and Strategy - March 2024
”European PMI data diverge not only in terms of sectors, but also in terms of countries and sub-components.”
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White papers
6 questions concerning the weakness behind US resiliency
Do you see recent US data pointing to stubborn inflation? In January we had some upside surprises, encompassing import prices, producer prices, both headline and core CPI, and the PCE deflator. We think prices were in part boosted by seasonal factors which are not fully accounted for in the usual seasonal adjustment, something that also happened last year.
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White papers
Cross Asset Investment Strategy - March 2024
“While we expect the Fed, Bank of England and ECB to start rate cuts around June, we will keep an eye on the pace of disinflation for any surprises.”
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White papers
The Economic Cost of the Carbon Tax
The choice of the optimal environmental policy is an important question in the current climate change context. While the carbon tax was the preferred policy of economists in the 1970s and 1980s, governments have implemented both quantity-based policies, such as emissions trading schemes, and price-based policies, such as fossil fuel taxes and renewable energy subsidies.
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White papers
Super Tuesday points to a super-charged battle
“A Trump-Biden rematch looks likely in November. As we move closer to the elections, market uncertainty will rise given the candidates’ divergent approach to foreign policy and geopolitics.”
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White papers
Adapting to higher interest rates while optimizing prudential capital
As we enter 2024, the financial terrain remains shaped by high interest rates likely to persist at least through the first half of the year.
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White papers
ESG Thema #15 - Measuring the Biodiversity Footprints of Investments: An Assessment of the Metrics
The urgency and scale of biodiversity loss are exposing a high number of companies across sectors to significant financial risks. In this context, it has become increasingly necessary for investors to reliably assess the impact and dependence of companies on biodiversity.
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White papers
Can the US sustain a rising debt burden?
The United States is approaching an unprecedented level of debt, exceeding historical highs experienced post-World War II. This situation indicates that fiscal adjustment is unavoidable, as the country cannot simply outgrow its debt dilemma. Despite high domestic and external demand for US debt, relying on this demand amid such significant debt increases is risky.