Crouching tiger: the contrarian case for China
Following the end of zero-Covid, China is in the midst of a U-shaped rather than V-shaped recovery, which has been quite uneven across various sectors. Electric vehicle (EV) sales as percentage of new auto sales in China increased to 35% in 2022 and China is now a net exporter of cars. The Chinese EV sector […]
What gives, corporate hybrids?
Chartology
Raising the roof
market snapshot
Collapse frequency: deposits, liquidity, and the new bank-body problem
‘Black-body radiation’ – a phrase first dreamed up by Gustav Kirchoff in 1862 – is both a marvel of classic physics and a signal player in its undoing. The multi-talented Kirchoff was the first to mathematically formalise the relationship between radiation falling on an idealised black body and the subsequent frequencies of heat energy emitted […]
Uncut gems: The evolution of ESG in EM sovereign debt
The lack of a systematic means of integrating ESG factors into the processes that underpin EM sovereign debt investment has led to a widespread overdependence on exclusions and quantitative data – which is often backwards looking – and typically fails to reflect the realities on the ground. In this paper, we look at challenges EM […]
The case for Chinese equities
in charts
Falling inflation brightens US outlook
market snapshot
Global Equity ESG, Annual Report 2022
Fast reading: Annual review 2022: A run-down of what turned out to be a topsy-turvy year for investors. Engagement overview: 145 engagement objectives with 76 companies engaged. An update on our progress in 2022. In the spotlight: ESG in healthcare. How responsible investors can achieve tangible results in line with sustainable goals through engagement and […]
Emerging markets debt: Clouds of political uncertainty set to lift
Fast reading In February, Bola Tinubu was declared the winner of Nigeria’s closely contested election. While the president-elect faces a range of economic challenges, improvements in Nigeria’s external accounts from the opening of the Dangote oil refinery provide cause for optimism. Parliamentary and presidential elections are scheduled to take place in Turkey on 14 May, […]
Home away from home
Chart of the month
