17 April 2020 We have all seen the evidence that investors have deserted Emerging Markets in the wake of the Covid-19 pandemic. Indeed, the following Chart illustrates the liquidation of EM assets has been considerably larger than in past episodes, including the Global Financial Crisis (GFC). As a result, the following Chart illustrates that EM [...]
1 April 2020 The investor in the photgraph above can almost be forgiven for putting his head in his hands -- a lapse of proper hygiene. The first quater of 2020 tested the nerve of even the most hardened market professionals. Following the recent equity market bounce, the commencement of Q2 2020 and the US [...]
25 March 2020 In recent weeks, policymakers world-wide have repeatedly pledged "to do whatever it takes" to offset the economic damage wreaked by the Covid-19 outbreak. In general, the aim has been to provide needed medical resources, allocate compensation for sick leave, provide direct payments to workers losing their jobs, and to give support to [...]
20 March 2020 Initial data from China indicate the economic impact of the Coronavirus and efforts to prevent its spread will be significant. I will make some preliminary global economic projections, although they come with a greater degree of uncertainty than normal. Perhaps more importantly, I will set out some guideposts about how to assess [...]