China: Mapping potential tariff adjustments into RMB movements
■ With inflation running high in the US, rolling back some of the tariffs imposed by former President Trump on… »
Inflation, War, And COVID Drag On
Headwinds Are Eroding Credit Buffers On May 17, we announced downward revisions to our global macroeconomic base-case forecasts of between… »
Russian gas disruptions start to trickle in; TTF risks heavily skewed to the upside
Uncertainty related to the Russian gas payment system, a disruption of flows via Ukraine and the Russia sanctions illustrate that… »
Fed likely set for a 75bp hike and more balance sheet reduction
It’s hard not to fixate on comments from the Fed’s Bullard suggesting that a 75bp rate hike would not be… »
Why we still like stocks as yields spike
• We prefer equities even as bond yields have sprinted higher. Global growth is still solid, and we see central… »
What Recovery and Resilience? Italy Looses 3% Resilience in One Year
Italy, just like other European countries, has launched last year a National Recovery and Resilience Plan. The plan is funded… »
Impact from the Russia-Ukraine conflict
Minimal impact in the short term, but not helpful In the short term, we expect minimal impact both on demand… »
The Wide Angle : Russia’s war and global banking
Russia’s war on Ukraine could be a game changer for global banking. European banks are in the front row, whether… »
Impact of the drive for energy security
• We see the West’s drive for energy security slowing growth, increasing inflation and stoking demand for non-Russian fossil fuels… »
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