BNP Paribas


The digital yuan and its disruptive potential

The digital yuan and its disruptive potential

(ATF) After more than 70 years of dominance, the US dollar-centric global monetary system is under challenge. While the USD is not expected to lose its global currency status any time soon, many countries – mainly but not limited to the developing ones – have started to question the dollar …

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Private debt and real assets best for diversity, returns

Private debt and real assets best for diversity, returns

(ATF) Public markets are facing challenges: They no longer offer the diversification they did in the past – the globalisation of capital has led to higher equity market correlations between countries and sectors. And with interest rates in developed markets at the low end, government bonds may no longer be …

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China recovery awakens EM bulls

(ATF) China’s “dual circulation” policy to use its internal growth impetus to drive domestic and regional growth supports the bullish view on Emerging Asian markets in the face of Covid-19. It also argues that 1) domestic demand growth, import substitution and technological self-sufficiency would drive investment decisions and opportunities in …

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The new frontier for global bond investors

The new frontier for global bond investors

(ATF) Despite increases in foreign holdings in every quarter over the past three years, less than 3% of China's vast domestic bond market — the world's second-largest — was owned by foreign investors as of the end of June, according to Moody's.Jean-Charles Sambor, head of global emerging market debt at …

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China on track for 2.2% growth in 2020

China on track for 2.2% growth in 2020

(ATF) China’s 4.9% year-on-year third quarter 2020 GDP growth was lower than my 5.5% forecast. But the new data (released on 19 October) has not changed my fundamental case and forecast trajectory that China’s recovery started after the growth plunge in the first quarter and the second quarter was a …

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