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Global views and trends

The Intelligence Report – 14 March 2019

14 March 2019 -

In a world striving for greater sustainability, investment in coal – be it mining or power generation – should be much more selective, hence our new coal investment policy. Also in this issue: how to navigate markets as they swing between the impact of news on the fundamentals and adjustments in central bank liquidity; what to make of the trends in US inflation; and our assessment of the relations and economies of China and the US.


Divestment from coal: our new policy
Reducing CO2 emissions from coal is the single most effective way of moving towards an energy system consistent with the Paris Agreement; which is why we have drafted a new coal policy for our portfolios.



Navigating the shift from fundamentals to liquidity
Investors face a regime change towards lower investment returns and more financial market volatility as a decade of generous, QE-related central bank liquidity comes to an end.



How meaningful is the pick-up in pro-cyclical inflation?
US pro-cyclical inflation has spilled over from housing into other sectors, including communication services. Telecoms’ future contribution to inflation will depend on the pace and price impact of tech progress.



Webcast: Focus on US and China relations
The relationship between China and the US will be central to the global economy for years to come. What do we expect to see when it comes to issues such as bilateral trade and the prospects for their economies?



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The Intelligence Report appears roughly every two weeks and offers investors insights into the topics that we believe matter to them from around BNP Paribas Asset Management. Contact your local representative for  more information.

On the same subject:
28 February 2019

An explanation on why China wants a trade deal and how the US feels about this

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26 February 2019

Investors can look forward to greater transparency on sustainable finance as Europe takes the lead with an ambitious plan to help redirect capital flows, define sustainability and foster long-termism. This issue also covers the outlook for US earnings in 2019, incorporating sustainability in factor investing and an insight into who should call the shots in handling the next recession.

26 February 2019

A “Great Instability” has followed the Great Financial Crisis and the risk of radical disruptive change looks high, with potentially profound implications for investors

Webcast – A focus on the US and China: their relations and economies

An explanation on why China wants a trade deal and how the US feels about this