Intermoney | The increased scarcity of paper is prompting money funds to dump their excess liquidity in the reverse repo window, for which the Fed is offering 0.8%. In fact, demand for Fed reverse repurchase agreements reached new highs after 94 participants placed a total of $2,045 tr. As we have explained, the increased interest in reverse repo trading, which is usually an investment of last resort, has been exacerbated…
Alicia García Herrero (Natixis) | US President Joe Biden’s long-awaited trip to Asia got off to a poor start, after ASEAN leaders’ official visit to the White House saw hardly any relevant policy decisions, and Biden’s stingy pitch of $150 million to ASEAN economies. Based on that example and Biden’s difficult political situation at home, the stakes for his trip to Asia were low. But reality has proved the pessimism…
Link Securities | Japan’s GDP contracted by 1% in Q1 2022 from the previous quarter on an annualised basis, a smaller decline than the 1.8% drop expected by analysts. In addition, in the previous quarter Japan recorded GDP growth of 3.8%, revised downwards from an initial estimate of 4.6% growth. The main surprise was a marginal 0.1% annualised fall in private consumption, which is explained as the main drag on…
By Juan Girón Roger ( journalist). Text and pictures | The trade show for Arabic travel and tourism, the Arab version of Fitur, started in Dubai in May 9 and will continue on virtual format until May 19. Recovery, the role of technology for a renewal of travel and personalization for the traveler experience were the buzzwords there. They have what it takes –spectacular projects and huge budgets to make…
Meet economist Joshua Angrist who believes that to be a good labour economist, you should have had some real-life job experience. In conversation with our podcast host Adam Smith, Angrist tells us about his disinterest in school and how as a teenager he was more interested in earning money and maintaining his car. His later surprising and instant connection with economics led him to dedicate his life to his research:…
Crédito y Caución (Atradius) | Latin America is a frontrunner in the energy transition. It has the cleanest electricity mix in the world. But it is mainly focusing on hydropower, which is susceptible to altering rain cycles. The region has huge potential in other sources of green energy, such as sun, wind and geothermal generation. To remain a leader in clean electricity and achieve net zero emissions in 2050 it…
José Carlos González Vázquez (Ceca Magán Lawyers) | On April 1, 2022, Los Angeles County Superior Court has found that California Corporations Section 301.4 (AB 979 signed in September 30, 2020), which requires publicly listed corporations to have at least one director on their boards from “underrepresented communities”, defined as “an individual who self-identifies as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaian, or Alaska Native,…
Juan Girón Roger (journalist) | You might have thought why you can leave your house, take a taxi, jump into a plane, get a bus, take a train and get to your destination. That is because of multimodal travel. This vision was developed to make people’s life easier. But is this something anybody can use and benefit from? Let’s take it one step at a time. Multimodal travel implies that…
Juan Antonio Martínez & Leonardo Gago (ASE Group) | More liquefied natural gas (LNG) is arriving at European ports and has lowered the daily price and that of immediate short-term gas products at the Dutch TTF. For the time being, the increase in LNG imports is offsetting the strain on Russian supply. In Q1 2022, Russian exports to the EU had fallen by 35% compared to the 2016-2021 average for…
Alicia García Herrero (Natixis) | With high inflation globally and supply chain disruptions in Mainland China, Taiwan will face more headwinds in growth. Even though the economic fundamentals are still supportive, the worsened environment can multiply risks in capital outflows and corporate profits. Above all, the good news is exports and investment remain the strong pillars. With buoying global demand, Taiwan’s export grew 24% YoY in Q1 2022. There was…