All Features articles – Page 5

  • Maloney_T_3930_0566-Edit
    Features

    Inversion anxiety: what’s up with yield curves in 2023

    October 2023 (Magazine)

    For over half a century, each time the spread between US 10-year and three-month yields turned negative, indicating an inverted yield curve, a recession followed, sooner or later. In 2023, the yield curve has been more than just a little inverted. 

  • 077-IPE Oct 2023
    Features

    Qontigo Riskwatch - October 2023

    October 2023 (Magazine)

    *Data as of 31 August 2023. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants

  • Virtu global tradewatch Oct 2023
    Features

    Virtu Global Tradewatch - October 2023

    October 2023 (Magazine)

    July 2023 data through to 10 September 2023

  • IPE quest expectations indicator - Oct 2023
    Features

    IPE Quest Expectations Indicator - October 2023

    October 2023 (Magazine)

    The Russian war in the Ukraine is still stalling, with the prelude of the US elections coming closer. Trump’s self-destructive utterings keep his followers unmoved but do nothing to convince independents.

  • Harry Markowitz and Joseph Mariathasan on the boardwalk at San Diego beach
    Features

    Pancakes for lunch with Nobel laureate Harry Markowitz

    September 2023 (Magazine)

    Harry Markowitz, Nobel Laureate and founder of Modern Portfolio Theory, passed away in June this year. Much has been written about his contribution to the development of modern finance theory. Less, though, on Harry as a person. 

  • Jacobs-Dean Adam
    Features

    ISSB: Green future or more green washing?

    September 2023 (Magazine)

    Imagine a world where investment professionals can make decisions based on standardised environmental, social, and governance (ESG) data. Well, that may no longer be a pipedream, thanks in no small part to the publication on 26 June of the International Sustainability Standards Board’s (ISSB) board’s first two sustainability reporting standards. 

  • Gustavo Medeiros
    Features

    The US dollar’s declining status as a global reserve currency

    September 2023 (Magazine)

    The recent US debt ceiling negotiations have brought into question the viability of the US dollar’s status as a global reserve currency. Long-term investors have been reviewing their strategic asset allocation away from the currency, seeking to diversify their exposure and to take advantage of long-term investment opportunities. 

  • Chile’s central bank has started to cut rates
    Features

    Fixed income, rates & currency: Uncertainty persists

    September 2023 (Magazine)

    As the major central banks in developed markets reach, or at least near, the end of their hiking cycles, markets, rather than identifying when policy rates will peak, focus is now on the conundrum of just how long these policy peaks will be maintained.

  • Shadow banks account for almost half of global assets
    Features

    Open-ended investment funds face up to the shadow banking dragnet

    September 2023 (Magazine)

    The debate over the systemic risk of non-bank financial institutions (NBFIs) – sometimes called shadow banks – is a recurrent theme but it has recently moved to the forefront thanks to tighter monetary policies, geopolitical risks and factors such as the UK’s LDI crisis. While regulators are assessing the threats posed, most market participants believe changes will not happen for years. For some, there are fears that largely unleveraged segments like open-ended investment funds could be unfairly targeted

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    Features

    Fossil fuel divestment is back in fashion

    September 2023 (Magazine)

    More and more asset owners are exiting oil and gas. Sophie Robinson-Tillett speaks to some about why, and how, they’re selling out of the sector

  • iStock-1334874008
    Features

    Britain’s LDI crisis: When things nearly fell apart

    September 2023 (Magazine)

    On 23 September 2022, Kwasi Kwarteng, the then UK chancellor of the exchequer, announced a £45bn (€52bn)  package of tax cuts. The hand-outs, designed to please key voters, were the wrong gift at the wrong time. For several years, the Bank of England had been attempting to end quantitative easing and start putting a higher price on borrowing.

  • Rajan, Amin 2
    Features

    Research: The yin and yang of passive and active investing

    September 2023 (Magazine)

    Amin Rajan and Sebastian Schiele look at the complementary relationship between active and passive investment strategies

  • GLOBAL MARKET PREDICTED RISK
    Features

    Qontigo Riskwatch - September 2023

    September 2023 (Magazine)

    *Data as of 31 July 2023. Forecast risk estimate for each index measured by the respective US, World and Emerging Markets Qontigo model variants

  • Emerging markets
    Features

    Virtu Global Tradewatch - September 2023

    September 2023 (Magazine)

    July 2023 data through to 10 August 2023

  • Net sentiment bonds
    Features

    IPE Quest Expectations Indicator: September 2023

    September 2023 (Magazine)

    US officials are talking up the Ukrainian advance towards Melitopol, a sign that all is not well. Contrary to expectations, the biggest problem is not the Russian air force, but land mines. Trump’s legal problems are as worrisome as his inexplicable lead among Republicans. US abstinence in the struggle against climate change is a potential cause for a major trade war as the EU realises it must expand its regulations on importing ‘dirty’ products to prevent a free rider problem undermining its climate efforts. In the UK, Labour’s lead over the Conservatives remains crushing, making it difficult to claim the government has a popular mandate.

  • Charles-Henry Monchau
    Features

    How the AT1 bond market shrugged off the Credit Suisse debacle

    September 2023 (Magazine)

    On a late Monday evening in August, the Italian right-wing government unexpectedly announced a new 40% tax on banks’ ‘windfall’ profits derived by the higher lending rates. Shares in Italian banks tumbled, banking executives cried foul, and analysts poured scorn over the measure. The government, which was hoping to raise up to €3bn to help families and small businesses, backtracked shortly after, scaling back the tax.  

  • Rawson, Simon
    Features

    Discerning investor sentiment: this year’s proxy season

    July/August 2023 (Magazine)

    Every annual general meeting (AGM) season has traditionally brought with it a few symbolic moments – events that serve as broader indicators of the market’s mood when it comes to environmental and social issues.

  • Joseph Mariathasan
    Features

    Digital health revolution ramps up

    July/August 2023 (Magazine)

    The world is at the beginning of a digital health revolution. This has been accelerated by the COVID pandemic that forced radical shifts in doctor/patient interactions, and supercharged by the emergence of OpenAI’s ChatGPT that brought generative artificial intelligence (AI) to the forefront and pulled the potential of AI in healthcare into the limelight.

  • Francis Crick Institute, London
    Features

    UK venture capital: spinning out for success

    July/August 2023 (Magazine)

    Academic research produces excellent technology and medical firms, but the funding is not always available to take things further

  • Federal Reserve Bank of St Louis
    Features

    Fixed income, rates & currency: US debt crisis averted – what next?

    July/August 2023 (Magazine)

    The US debt ceiling crisis was resolved in June, avoiding potentially major fireworks, with a suspension of the limit until early 2025. This ensures that the next time the politicians have to fight about it will be after the November 2024 presidential election. Although markets were relieved at the temporary resolution, the process of rebuilding the very depleted Treasury cash balances – with some huge bill auctions planned – will drain significant liquidity from the system, which could put pressure on the rates market.