Are emerging markets the next domino to fall? While EM demographics and debt levels are comparatively better than developed markets, is the region resilient to hot money outflows that are common during a crisis?

The rush for liquidity by investors and the response by central banks globally to the current crisis has created dislocations in the capital markets and led to a mispricing of risk.

The impact of COVID-19 has changed the dynamics in credit markets causing a blurring of spreads between investment grade and high yield and public and private debt.

The framework for understanding the impact of COVID-19 is not unique. Its impact on land, labour and capital is consistent with climate risk such as extreme weather events, or Green Swans.

[vc_empty_space]Despite an increasing willingness to invest globally, asset owners typically run static hedge ratios on their portfolios to manage currency risk. But is this a big mistake? The Australian dollar fell 1450 basis points from 1 January 2020 to 20 March, and has subsequently rallied 900 basis points. View Stuart’s presentation slides here Speaker Stuart … Read more

Even before the pandemic, China was witnessing an increase in non-performing loans. With weaker economic conditions, the stress in global credit markets has increased.

Does the pandemic mark the end of globalisation? Will existing geopolitical trends accelerate or is a new order coming where China is the ultimate beneficiary? In this time of upheaval, what can be learned from history about the next possible shocks and fallout?

Low interest rates and quantitative easing were used by central banks to help reach their target inflation rates, but its major impact was to create asset bubbles.

Governments and central banks are grappling to find monetary and fiscal responses to the unprecedented global health crisis that has suspended large parts of the economy. This session explores the investment implications from such extraordinary actions.