The COVID-19 pandemic has evolved from a health crisis into a severe economic crisis as countries around the world closed their economies and prevented the movement of, and interaction between, people as a means to slow the spread of the virus. The economic crisis initially led to a massive selloff in the financial markets as investors transferred risky assets into safe haven assets to protect their wealth (Bofinger et al. 2020, Wyplosz 2020). Consequently, COVID-19 has struck the stock markets more severely than any previous infectious disease outbreak, including the 1918 Spanish Flu (Baker et al. 2020).
As we look to 2023, the global economy faces a critical juncture with a number of parallel and often related crises. The polycrisis upon us includes the legacy of COVID-19, a war in Europe, a huge energy shock, significant inflation, a global monetary tightening cycle, a strong U.S. dollar, the slowest growth in recent history for China, global indebtedness and increasing tensions between the U.S. and China, to name a few. This is to say nothing of the turmoil playing out in financial markets as the decades-long negative correlation between bonds and stocks has broken down, causing both to decline simultaneously. As years of cheap money come to an end and the tide of liquidity goes back out, we are starting to discover who is exposed. Global debt to GDP exceeds 300%, but countries are going to have to spend a lot more money to address the polycrisis. In doing so, they will be working against central banks, which will continue to withdraw accommodation in an effort to lean against inflation. We analyze 10 trends we expect in 2023 as policymakers do their best to navigate this economic, geopolitical and regulatory polycrisis.
The Coronavirus Is Now Infecting The Economy, Stock And Job Markets : CryptoCurrency
Fresh off a very aggressive rulemaking and regulatory agenda executed in 2022, the SEC is expected to refocus its priorities to address the realities of the change in control of the U.S. House, potential recessionary stresses on the financial markets, ever increasing concerns over fraud and the contagion effect of volatility and liquidity in the cryptocurrency market. 2022 established a neck-breaking pace for rule proposals and/or new rules that impacted wide swaths of the financial services industry, including new rules or proposals relating to derivatives, valuation, private funds, securities lending, ESG, proxies, SPACs, cyber security disclosures, short sales, third-party service providers, insider trading, regulatory reporting, board diversity and executive compensation, to name a few.
This inventory focuses on the global economy, pulling together analysis and data directly and indirectly related to the broad and far-reaching economic challenges arising in the context of the coronavirus (COVID-19). From productivity and income redistribution to tourism and SMEs, this collection brings together a broad range of policies to promote sustainable economic growth and build resilience for an inclusive and green recovery.
Vacancies are defined as positions for which employers are actively seeking recruits from outside their business or organisation. The estimates are based on the Vacancy Survey. This is a survey of businesses designed to provide estimates of the stock of vacancies across the economy, excluding agriculture, forestry, and fishing (a small sector for which the collection of estimates would not be practical).
The upcoming waves of baby boomer retirements could push down U.S. equity markets according to the strong historical relationship between the age distribution of the population and stock market performance. However, that relationship appeared to break down after 2011. Is the stock market due for a demographic-induced correction? Read more 2ff7e9595c