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CHARTS OF THE WEEK

CHARTS OF THE WEEK

BILAL'S TOP PICKS

Raising taxes could tip us back into recession (The Article, 5 min read) George Magnus argues there is no need to raise taxes. [Bearish UK assets]

China Leads Again (Project Syndicate, 5 min read)

How Has China’s Economy Performed under the COVID-19 Shock? (Liberty Street Economics, 6 min read)

China’s Surplus is Rising Rapidly. So is the U.S. Deficit. The IMF Cannot Turn a Blind Eye (Brad Setser, 3 min read) 

China: seven things investors should know (LGIM Blog, 3 min read)

Banking across borders: Are Chinese banks different? (BIS, 20 page read)

Behind the Stability in China’s Currency: Beijing’s Hidden Hand (Barron’s, 4 min read)

One Belt, One Road, One Way? (Maastricht University, 23 page read)

Chinese Open Source Data Collection, Big Data, And Private Enterprise Work For State Intelligence and Security: The Case of Shenzhen Zhenhua (NBER, 5 page read)

The Big Cycles of China and Its Currency (Ray Dalio, 15 page read)

Lop-sided Chinese recovery (Twitter, 3 min read) Michael Pettis remains pessimistic on China despite the recent upbeat data. Faster growth in IP relative to consumption may cause a slowdown in growth due to unsustainable debt levels. Beijing should focus more on improving domestic demand rather than pushing supply-side policies. [Bearish CNY]

Digital currency and the new cold war (OMFIF, 6 min read)Argues that China’s move into digital currency is a new front in the US-China cold war.

China’s semiconductor drive stalls in Wuhan, exposing gap in hi-tech production capabilities (SCMP, 3 min read) Shows China’s path to tech independence will be rocky. [Bearish China tech]

An Apocalypse Foretold: Climate Shocks and Sovereign Defaults (IMF, 14 page read)

Green bond issuance set to double by 2023 after hitting $1trn (Expert Investor, 2 min read)

Building ESG momentum in US equities (Amundi, 7 min read)

The Core of the ECB’s New Strategy (Project Syndicate,4 min read)

Green Asset Pricing (ECB, 35 page read)

ESG investing looks like just another stock bubble (Advisor Perspectives, 3 min read)

Economic Aspects of the Energy Transition (NBER) Paper argues that we are not correctly accounting for the increase in electricity prices.

Forced Feminist Firms  (NBER, 34 page read) Reduced turnover, increased productivity and female leadership are important mechanisms leading to observed performance gains of private and public firms. Mounting pressure to improve female representation can, therefore, lead to positive growth externalities. 

Competition Heats Up For ESG ETFs (Banking Exchange, 3 min read) New data finds ‘number of tracker funds with a dedicated ‘sustainable’ focus hit 534 by the end of the second quarter of 2020.’

Did ESG improve resiliency during Q1 (Jon Hale, 8 min read) Summarises recent academic papers and finds ‘companies valuing stakeholders during pandemic had higher institutional flows and less negative returns’. [Bullish ESG]

CHARTS OF THE WEEK

BILAL'S TOP PICKS

Raising taxes could tip us back into recession (The Article, 5 min read) George Magnus argues there is no need to raise taxes. [Bearish UK assets]

China Leads Again (Project Syndicate, 5 min read)

How Has China’s Economy Performed under the COVID-19 Shock? (Liberty Street Economics, 6 min read)

China’s Surplus is Rising Rapidly. So is the U.S. Deficit. The IMF Cannot Turn a Blind Eye (Brad Setser, 3 min read) 

China: seven things investors should know (LGIM Blog, 3 min read)

Banking across borders: Are Chinese banks different? (BIS, 20 page read)

Behind the Stability in China’s Currency: Beijing’s Hidden Hand (Barron’s, 4 min read)

One Belt, One Road, One Way? (Maastricht University, 23 page read)

Chinese Open Source Data Collection, Big Data, And Private Enterprise Work For State Intelligence and Security: The Case of Shenzhen Zhenhua (NBER, 5 page read)

The Big Cycles of China and Its Currency (Ray Dalio, 15 page read)

Lop-sided Chinese recovery (Twitter, 3 min read) Michael Pettis remains pessimistic on China despite the recent upbeat data. Faster growth in IP relative to consumption may cause a slowdown in growth due to unsustainable debt levels. Beijing should focus more on improving domestic demand rather than pushing supply-side policies. [Bearish CNY]

Digital currency and the new cold war (OMFIF, 6 min read)Argues that China’s move into digital currency is a new front in the US-China cold war.

China’s semiconductor drive stalls in Wuhan, exposing gap in hi-tech production capabilities (SCMP, 3 min read) Shows China’s path to tech independence will be rocky. [Bearish China tech]

An Apocalypse Foretold: Climate Shocks and Sovereign Defaults (IMF, 14 page read)

Green bond issuance set to double by 2023 after hitting $1trn (Expert Investor, 2 min read)

Building ESG momentum in US equities (Amundi, 7 min read)

The Core of the ECB’s New Strategy (Project Syndicate,4 min read)

Green Asset Pricing (ECB, 35 page read)

ESG investing looks like just another stock bubble (Advisor Perspectives, 3 min read)

Economic Aspects of the Energy Transition (NBER) Paper argues that we are not correctly accounting for the increase in electricity prices.

Forced Feminist Firms  (NBER, 34 page read) Reduced turnover, increased productivity and female leadership are important mechanisms leading to observed performance gains of private and public firms. Mounting pressure to improve female representation can, therefore, lead to positive growth externalities. 

Competition Heats Up For ESG ETFs (Banking Exchange, 3 min read) New data finds ‘number of tracker funds with a dedicated ‘sustainable’ focus hit 534 by the end of the second quarter of 2020.’

Did ESG improve resiliency during Q1 (Jon Hale, 8 min read) Summarises recent academic papers and finds ‘companies valuing stakeholders during pandemic had higher institutional flows and less negative returns’. [Bullish ESG]

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Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and No...

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George Goncalves is a bond market veteran with over 20yrs on the sell-side and buy-side. For nearly a decade George was at Nomura Securities...

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Over a 30-year career as a sell side analyst, John covered the structured finance and credit markets before serving as a corporate market st...

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Dominique Dwor-Frecaut is a macro strategist based in Los Angeles. She has been producing alpha generating trade ideas in FX and rates in E...

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John Butler has 25 years experience in international finance. He has served as a Managing Director for bulge-bracket investment banks on bot...

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