Summer 2020 Vol.11 Ed.3
As lockdowns ease and the world enters the mysterious, daunting ‘post-Covid era’, Robinson Crusoe comes to mind. Like Daniel Defoe’s shipwrecked explorer, the world is learning to adapt to life after a disastrous storm. Governments and central bankers took extraordinary measures to salvage what they could of the global economy. It is difficult to know what shape the recovery will take. But not every part of our pre-pandemic lives will make it safely back to shore.
OMFIF Chief Economist and Director of Research Danae Kyriakopoulou writes that for the euro area the health crisis hit the economy at a particularly vulnerable time. Policy-makers have averted a financial crisis, but must now avoid exacerbating divergences between core and periphery economies.
On a more positive note, socially responsible portfolios were better able to withstand the pandemic shock. Perhaps this will inspire a boost in environmental, social and governance investing, amid mounting calls for the recovery to be a green one.
Key contributors to this edition of The Bulletin include:
- Nathan Sheets, chief economist and head of global macroeconomic research at PGIM Fixed Income;
- Rohan Singh, head of asset servicing, Asia Pacific at BNY Mellon;
- Dijana Bogdanovic, ESG analyst, and Dieter Konrad, head of quant and smart data at Union Investment;
- Andy Rothman, investment strategist at Matthews Asia.