This OECD note provides illustrative estimates of the initial direct impact of shutdowns, based on an analysis of sectoral output and consumption patterns across countries and an assumption of common effects within each sector and spending category in all countries. This approach suggests that the initial direct impact of the shutdowns could be a decline in the level of output of between one-fifth to one-quarter in many economies, with consumers’ expenditure potentially dropping by around one-third. Changes of this magnitude would far outweigh anything experienced during the global financial crisis in 2008-09. This broad estimate only covers the initial direct impact in the sectors involved and does not take into account any additional indirect impacts that may arise.
FIS Digital – June 2020
Florida: Opportunities in a crisis
The Florida State Board of Administration has made some strategic moves to take advantage of opportunities in the dislocation, including in private equity, distressed debt and active listed equities.. But CIO, Ash Williams, is concerned about the underlying real economy.
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CPP Investment’s COVID journey
In this Fiduciary Investors Series podcast Amanda White talks with Geoffrey Rubin, chief investment strategist at CPP Investments, which manages the investments of Canada’s largest pension fund with about C$410 billion of assets.
FIS 2020: Deglobalisation and politics
In the first of four articles looking ahead to FIS 2020, we highlight how the event will focus on de-globalisation and geopolitical stress, particularly the deteriorating relationship between China and the US. Elsewhere, FIS delegates will hear how asset owners are positioning their portfolios in today's challenging environment.
The voice of business
The Future of the Corporation programme is the British Academy's review of the role of business in society. It combines research from a range of academic disciplines with insight from senior business and policy leaders.
Navigating a pandemic-driven crisis
A new report by Mercer, COVID-19 – Investment Governance and Strategy to Navigate a Pandemic-Driven Market Crisis, examines how large asset owners are finding ways to pursue attractive risk-adjusted investment returns while also taking investment actions to help mitigate and address the impact of the COVID-19 pandemic through investment governance.
MMT: unemployment a policy choice
Unemployment is a policy choice, according to Professor Bill Mitchell, the father of Modern Monetary Theory (MMT). He says there is no reason that unemployment should be at the current levels.
What to ask companies this AGM season
APG and CalSTRS are leading a collaboration with PRI that provides investors with ESG-related questions to ask investee companies about their responses to COVID-19.
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