All IPE articles in April 2020 (Magazine)
View all stories from this issue.
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Opinion PiecesKnowns and unknowns
“There are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns – the ones we don’t know we don’t know.” Donald Rumsfeld, former US secretary of defence, February 2002
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Opinion PiecesUnderstanding the pandemic’s impact
When facing a serious threat it pays to remain as calm as possible. The temptation to panic is inevitably strong but it should be resisted.
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Opinion PiecesGuest Viewpoint: Steve Waygood
History may well look back on 2019 as the year the world finally woke up to the threats posed by climate change. Yet, with the negotiation failures that occurred at the 2019 United Nations Climate Change Conference in Madrid (COP25), the year ended on a significant downer.
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Opinion PiecesBe prepared for the future
As 2019 came to an end, there were a number of risks that investors around the world would have to watch out for – Brexit negotiations, the US election, the trade war between China and the US – but nobody could have guessed that the COVID-19 pandemic was to come.
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Special ReportPensions tech: Fine-tuning the options for multinationals
ADA fintech software enables multinational pension schemes to weigh up a vast range of data and information
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Special ReportPensions tech: Digitising the world’s most global pension fund
The UN is using technology to transform bureaucratic processes in its pension scheme
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Special ReportPrivate and green: Non-listed sustainable debt
The market for non-listed debt with green or sustainability features is growing fast
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FeaturesFixed income, rates, currencies: Global economy under pressure
At the end of February, after a week that saw stock markets around the world plummet, US Federal Reserve chair Jerome Powell sought to calm fears, saying that the Fed would “act as appropriate” to support growth.
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FeaturesFixed Income & Credit: High-yield worries grow
Global high yield and loans still offer attractive returns but the worry is about the stage we are in the credit cycle
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FeaturesFixed Income & Credit: Credit at a crossroads
How will weak lending standards hurt credit investors in a global slowdown?
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FeaturesFixed Income & Credit: Loan covenant high tide?
Fitch Solutions outlines just how far covenant terms have steadily shifted in borrowers’ favour – at least until coronavirus hit
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Opinion PiecesLetter from a country in crisis
Empty streets and squares are not a usual sight in Italy, a country whose people love to socialise. The deadly COVID-19 pandemic has even taught Italians to make orderly queues outside supermarkets. The reality is that while Italians are not good at prevention, they are outstanding at reacting to emergency situations, thanks to their experience dealing with earthquakes and other natural disasters.
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AnalysisCoronavirus: Pension funds take comfort from relative health in turbulent times
European pension funds have underlined their position as long-term investors as they face unprecedented market turbulence and an economic downturn.
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Opinion PiecesThe case for a UK sovereign wealth fund
In November 2012 I suggested in an article in IPE that the UK should set up a sovereign wealth fund. The House of Commons had a parliamentary debate on setting one up in December 2016* and included the IPE article in the background papers. Unfortunately, Brexit overshadowed all else, but now that it is done, there may be a case for revisiting the arguments.
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FeaturesBriefing: Europe turns Japanese
Despite the more immediate concerns of the COVID-19 pandemic, the spectre of ‘Japanisation ’ casts a dark shadow over euro-zone investment markets. It is possible that the current crisis will supercharge the pre-existing trend for Europe to follow Japan’s economic and financial experiences.
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FeaturesBriefing: A safe haven
Treasuries, the yen, and gold all traditionally serve to harbour investors in times of stress. A closer look at the current demand for Treasuries, however, paints a complex world view with implications for financial markets. Yields suggest it might remain ugly for another decade.
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Book ReviewBook review: Radical Uncertainty by John Kay and Mervyn King
Within the terms of their own analysis, the authors of Radical Uncertainty might be remembered for a prescience they could neither possess nor aspire to
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Special ReportTransition bonds: Questions of transition
The market for sustainable investments is growing exponentially
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InterviewsOn the record: Green bonds
IPE asked two Nordic pension funds how they invest in green bonds and to what extent sustainability is considered part of their fixed-income strategies
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Special ReportGreen bond issuance: Denmark's split offering
The Danish government is keen to employ tradeable green certificates, which are designed to broaden the appeal of environmental debt, in its initial green bond issuance
