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Macro Analysis / Global

How an average investor really invests and why it matters

In today’s podcast, we will speak with Harindra de Silva, Ph.D., CFA®, Portfolio Manager for the Wells Fargo Asset Management (WFAM) Analytic Investors team, about how an average investor is really investing that is contrary to widely held perception...
Wells Fargo
Wells Fargo Asset Management 30 September 2020
Macro Analysis / Global

Election 2020: What will happen if the capital gains tax is increased?

I’ve been on my soapbox lately demonstrating that history suggests that elections do not mean nearly as much for equity markets as many investors suspect. However, Biden’s tax proposal would apply only to Americans earning more than $1 million, assum...
Invesco
Expert Investment Views: Invesco Blog 30 September 2020
Election 2020: What will happen if the capital gains tax is increased?
Election 2020: What will happen if the capital gains tax is increased?
Macro Analysis / Global

Do the benefits outweigh the costs of impact bonds?

To conclude this series of policy briefs, this fifth brief considers perhaps the most critical question to evaluate the success of impact bonds: whether, given costs and benefits, impact bonds are an efficient and cost-effective way to contract and f...
Brookings
Brookings Programs - Global Economy and Development 30 September 2020
Do the benefits outweigh the costs of impact bonds?
Do the benefits outweigh the costs of impact bonds?
Macro Analysis / Global

Figures of the week: Financial inclusion of farmers in Africa

More than half of the population of sub-Saharan Africa works in the agriculture sector, but most farmers in the region still do not have access to formal financial services. The authors write that, in 2017, 30 percent of adults in sub-Saharan Africa...
Brookings
Brookings Programs - Global Economy and Development 30 September 2020
Figures of the week: Financial inclusion of farmers in Africa
Figures of the week: Financial inclusion of farmers in Africa
Macro Analysis / Kenya

Kenya: Restructured loans at 38%; NPLs to climb as defaulter listing freeze ends

38% of loans are now restructured (10% in April); personal, trade and real estate loans most affected. Freeze on listing of loan defaulters ends today with no word on the way forward; negative for banks. NPLs ratio and cost of risk look set to climb...
Tellimer Research Faith Mwangi
Faith Mwangi @ Tellimer Research 30 September 2020
Kenya: Restructured loans at 38%; NPLs to climb as defaulter listing freeze ends
Kenya: Restructured loans at 38%; NPLs to climb as defaulter listing freeze ends
Macro Analysis / Global

G20 debt relief: What we have learnt so far

Mozambique became the 32nd country to be accepted by the Paris Club for bilateral debt service relief under the G20's Debt Service Suspension Initiative (DSSI) yesterday. We observe the vast majority of the 32 countries now approved for debt service...
Tellimer Research Stuart Culverhouse
Stuart Culverhouse @ Tellimer Research 30 September 2020
G20 debt relief: What we have learnt so far
G20 debt relief: What we have learnt so far
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This evening's briefing

Bondholders balk at Zambia’s plan to delay debt payments.
The FT reports that a group of creditors, which includes Pharo and Amia Capital, is concerned the government is not being clear about the true scale of the Chinese debt it has accumulated in recent years. After Zambia’s Ministry of Finance held an investor presentation on Tuesday, we had said that bondholders could very well choose to reject the consent solicitation, which would be a sign of a difficult road ahead. Click here to read our key takeaways. Get the full story →
Bondholders balk at Zambia’s plan to delay debt payments.
Singapore shuts down Wirecard’s payment operations.
The Monetary Authority of Singapore said in a statement that it directed Wirecard entities to cease payment services and return all customers’ funds by 14 October. This may prove disruptive as Wirecard services are widely used in Singapore, with cafés, bars and restaurants operating on the company’s payment terminals. With many fintechs dependent on Wirecard for payments infrastructure, we look at how the Wirecard saga raises the bar for fintech due diligence. Get the full story →
Singapore shuts down Wirecard’s payment operations.
Markets unenthralled by chaotic debate.
It is hard to identify a winner in what was a very chaotic first presidential debate, as the two candidates often interrupted each other and direct accusations largely outweighed policy discussions. The market reaction appears mostly adverse, though. US futures are pointing to a negative open. Get the full story →
Markets unenthralled by chaotic debate.
Saudi Arabia's economy shrank 7% in the second quarter.
The figures released by Saudi's General Authority for Statistics show how deeply Covid-19 hit both the oil and non-oil sectors. Consumer demand was also dampened after Saudi tripled VAT to 15% in July, in a bid to raise non-oil revenues. Oil prices have fallen in September and we think the backdrop is a risk for GCC equities. Get the full story →
Saudi Arabia's economy shrank 7% in the second quarter.
Nokia wins 5G contract in UK, replacing Huawei.
For countries looking to avoid China's Huawei the choice is relatively limited, with Nokia and Eriksson among the only alternative providers of the equipment. The US government has been encouraging big American companies to get more involved with 5G and Microsoft has entered the race with its Azure cloud. In the short term it may look like Huawei is the big loser here, but we argue that in five years’ time the ban may be seen as the moment that prompted China to end its reliance on US silicon tech. Get the full story →
Nokia wins 5G contract in UK, replacing  Huawei.
In case you missed it
Problem based learning

To continue reading this article, sign up for your free Tellimer account.

This evening's briefing

Bondholders balk at Zambia’s plan to delay debt payments.
The FT reports that a group of creditors, which includes Pharo and Amia Capital, is concerned the government is not being clear about the true scale of the Chinese debt it has accumulated in recent years. After Zambia’s Ministry of Finance held an investor presentation on Tuesday, we had said that bondholders could very well choose to reject the consent solicitation, which would be a sign of a difficult road ahead. Click here to read our key takeaways. Get the full story →
Bondholders balk at Zambia’s plan to delay debt payments.
Singapore shuts down Wirecard’s payment operations.
The Monetary Authority of Singapore said in a statement that it directed Wirecard entities to cease payment services and return all customers’ funds by 14 October. This may prove disruptive as Wirecard services are widely used in Singapore, with cafés, bars and restaurants operating on the company’s payment terminals. With many fintechs dependent on Wirecard for payments infrastructure, we look at how the Wirecard saga raises the bar for fintech due diligence. Get the full story →
Singapore shuts down Wirecard’s payment operations.
Markets unenthralled by chaotic debate.
It is hard to identify a winner in what was a very chaotic first presidential debate, as the two candidates often interrupted each other and direct accusations largely outweighed policy discussions. The market reaction appears mostly adverse, though. US futures are pointing to a negative open. Get the full story →
Markets unenthralled by chaotic debate.
Saudi Arabia's economy shrank 7% in the second quarter.
The figures released by Saudi's General Authority for Statistics show how deeply Covid-19 hit both the oil and non-oil sectors. Consumer demand was also dampened after Saudi tripled VAT to 15% in July, in a bid to raise non-oil revenues. Oil prices have fallen in September and we think the backdrop is a risk for GCC equities. Get the full story →
Saudi Arabia's economy shrank 7% in the second quarter.
Nokia wins 5G contract in UK, replacing Huawei.
For countries looking to avoid China's Huawei the choice is relatively limited, with Nokia and Eriksson among the only alternative providers of the equipment. The US government has been encouraging big American companies to get more involved with 5G and Microsoft has entered the race with its Azure cloud. In the short term it may look like Huawei is the big loser here, but we argue that in five years’ time the ban may be seen as the moment that prompted China to end its reliance on US silicon tech. Get the full story →
Nokia wins 5G contract in UK, replacing  Huawei.
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