20/07/2022 Retirement Pension Funds Letter 15 - Stage 2022: Cycling on As holidaymakers resume their familiar summer breaks and crowds return to the Champs-Elysées to cheer on the final stage of the 2022 Tour de France, elsewhere...
26/04/2022 Economy & Markets Macron's re-election is positive for French assets Understanding the outcome, policy and investment implications of the second-round of French presidential elections.
12/04/2022 Economy & Markets French election: markets complacent for Macron victory, but game is not yet won Update on the first round of the 2022 French Presidential elections
3/02/2022 Economy & Markets European strategic sovereignty must be an investment opportunity The concept of strategic sovereignty goes far beyond the issues of security and defence. It also assumes relative self-sufficiency, and the ability to...
23/11/2021 Sustainable Finance ESG and Sovereign Risk - What is Priced in by the Bond Market and Credit Rating Agencies? In this paper, we examine the materiality of ESG on country creditworthiness from a credit risk analysis viewpoint. To address this, we consider a granular...
19/05/2021 Economy & Markets Reindustrialisation, interventionism, sovereignty, de-globalisation…How Covid-19 and iconomics transform the world With the third industrial revolution and the Covid-19 crisis, the world has entered into a period of global transformations. The current industrial revolution...
7/05/2019 Asset Pricing & Behavioural Finance News-Based Indices on Country Fundamentals: Do They Help Explain Sovereign Credit Spread Fluctuations? This paper revisits the discussion about the role that fundamentals play in asset prices using sovereign credit spread data.
6/02/2018 Capital Market Assumptions Asset Class Returns Forecasts - Q1 - 2018 The robust global economic growth experienced in 2017 is expected to continue into 2018, albeit with some notable exceptions such as UK.
14/06/2016 Portfolio Allocation Asset Allocation under (one's own) Sovereign Default Risk The Greek drama of the late 2000s has returned sovereign risk awareness to centre stage.
25/06/2015 Portfolio Allocation Sovereign default in Emerging market countries: A transition model allowing for heterogeneity
28/11/2013 Portfolio Allocation Optimal Asset Allocation for Sovereign Wealth Funds: Theory and Practice This paper addresses management of sovereign wealth from the perspective of the theory of contingent claims.
15/08/2013 Asset Pricing & Behavioural Finance A Tale of Two Eurozones: Banks's Funding, Sovereign Risk & Unconventional Monetary Policies The admission by the Greek government on October 18, 2009, of large-scale accounting fraud in its national accounts sparked an unprecedented sovereign...
15/06/2013 Portfolio Allocation Sovereign Wealth and Risk Management - A New Framework for Optimal Asset Allocation of Sovereign Wealth This paper sets out a new analytical framework for optimal asset allocation of sovereign wealth, based on the theory of contingent claims analysis applied...