Economic confidence indicators continue to point to a solid cyclical growth momentum across sectors and regions. While financial market volatility is very low, economic policy uncertainty remains at high levels.
Brexit fears are clearly intensifying and our call that the Bremain vote will prevail on June 23 is getting increasingly uncomfortable. Admittedly, this is just stating the obvious as both opinion polls and betting market odds are indicating just that.
The recent wave of redundancies in the industrial and financial sector as well as the commotion surrounding CETA have put the challenges that come with automation and globalisation centre stage. These challenges come in addition to the issue of ageing and require urgent policy responses.
The victory of Exxon Mobil’s shareholders forcing the US oil juggernaut to be more transparent regarding its impact on climate change stands in stark contrast to president Trump’s announcement that the United States is withdrawing from the Paris Agreement.