Pulse: Markets


Allison Herren Lee, from Trump appointee to new face of regulatory ESG push in Washington

SAN FRANCISCO (Callaway Climate Insights) — The ESG investment phenomenon is reframing financial markets at pace in the face of a post-pandemic landscape, yet U.S. regulators are only now beginning to publicly embrace the critical importance of sustainability disclosure to market accountability.

There are indeed glimmers of a new path forward for ESG disclosure rules in Washington. This is remarkable in and of itself in that these inklings are in sharp contrast to the last four years of Trumpian “American First” mentality, including at the SEC.

Sustainability Stars: Martin Scheck and the green bonds of Europe

SAN FRANCISCO (Callaway Climate Insights) — Europe cemented yet another jewel into its sustainability crown when Italy’s government issued the European Union’s biggest-ever green bond in early March, raising more than €8 billion ($9.4 billion) to finance Italy’s green transition strategy and boosting the EU’s status as the world’s fastest growing player in today’s green bond market.

Remarks: Canada, The Americas and the Global Economy: Investing in an interconnected world - October 14, 2020

The annual Global Macro Conference sponsored and organized by the Official Monetary and Financial Institutions Forum (OMFIF) and Scotiabank’s Global Capital Markets - October 13-14, 2020

My remarks on the Oct. 14 Pension CIO panel follow.* 

The Official Unemployment Numbers Are Technically Fake News

April’s 14.7 percent unemployment rate, announced by the Labor Department last Friday, is awful by any standard. The official tally shows that unemployment increased by 15,938,000 people last month—to 23,078,000 overall—resulting in the highest jobless rate since the Great Depression. 

Private Payroll Trend Remains Solid in December, Wages Poised to Accelerate in 2020


2019 ended on a mostly consensus note. The private payroll jobs trend remained clearly healthy. The jobless rate set a new cycle low (marginally). Aggregate hours worked came in below expectations but, with productivity gains and a surge in net exports, FMI is still looking for +2.5% or so real GDP growth for 19Q4.
 

The Butterfly Effect - EconVue Mexico Report

Chicago and Mexico are inextricably intertwined on multiple levels. The Midwest has structural similarities to the Mexican economy, especially in terms of the dominance of its manufacturing sector. Chicago has the largest Mexican-American population in the country outside of Los Angeles, more than three quarters of a million people. We even share a connection in the natural world. This is the season when a kaleidoscope of Monarch butterflies swarm through Chicago, on their way to spend the winter in Mexico.

Pages