Download PDF Introduction The European Union’s Emissions Trading System is undergoing major changes as part of the EU’s ambitious “Fit for 55” climate package. These reforms tighten the carbon market in unprecedented ways to help meet a 55% emissions reduction by 2030. Three key developments are reshaping the EU carbon Read more…
Download PDF US U.S. equities ended the week notably lower, marking a pause in the recent upward momentum. The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average fell by approximately -2.43%, -3.01%, and -2.73%, respectively, logging only the third weekly decline in the past ten weeks. The market had Read more…
Download PDF Private markets, once the exclusive domain of institutional investors, are undergoing a structural transformation. As technology, regulation, and investor behaviour evolve, access to traditionally illiquid asset classes like private equity, credit, and infrastructure is widening. What was once a closed ecosystem of pension funds and endowments is now Read more…
Download PDF Introduction “You show me a hero, and I’ll write you a tragedy.” – The Big Short (2015) In a previously discussed article titled “When Creditors Collide: The Tug of War for Distressed Assets,” we examined the history, mechanics, and initial wave of creditor-on-creditor violence. LMEs (liability management exercises), Read more…
Download PDF USA US equities ended the week on a stronger note: despite the US government shutdown on Wednesday, the market has seen all-time highs during the week for both S&P500 and DJIA. The S&P 500 and Dow each gained about +0.83% and +0.95% respectively for the week, while the Read more…
Download PDF Introduction Third-party litigation funding is a new emerging investment strategy which aims to profit from the outcome of court cases. In particular, by financing the legal costs and fees of the claimants, investment firms look to obtain a share of the eventual settlement. As the sector experienced strong Read more…
Download PDF Introduction Whenever approaching Quant Trading it is crucial to be aware that the benefit of each trade we make needs to overcome the cost of trading. Transaction cost models are a way to quantify the cost of making a trade of a given size so that the information Read more…
Download PDF Introduction The pharmaceutical industry is approaching one of its most challenging periods. Over the next five years, a wave of blockbuster drugs, many of which currently generate billions in annual revenue, are going to lose their patent protection, leading to an opening in the market for cheaper substitutes Read more…
Download PDF Introduction Bond markets across major economies-including France, Japan and the UK have undergone notable shifts in recent weeks as investors reassess fiscal uncertainty, inflation, rates trajectories, and political turmoil. While the recent election of new prime minister Sanae Takaichi in Japan is currently capturing markets participant’s attention, the Read more…
Download PDF Introduction Since their inception in the 1700s, Christie’s and Sotheby’s have dominated the top-tier auction market, being the closest of rivals. Characterised by staggering sales, such as Leonardo da Vinci’s Salvator Mundi, ($450.3m, 2017) or Andy Warhol’s Shot Sage Blue Marilyn ($195m, 2022), the houses trumpeted high margins, Read more…
Download PDF Introduction Bulgaria –already an EU member but not yet in the euro area– has received the European Commission’s green light to adopt the euro in 2026, becoming the 21st member of the Eurozone. The ECB believes that the euro’s introduction will help improve overall economic stability and create Read more…
Download PDF USA U.S. equities ended the week on a weaker note, despite a Friday rally that helped recover some of the losses. The major indices remained under pressure from rising Treasury yields and renewed trade announcements, leaving investors concerned with further volatility. On Friday, the major indices managed to Read more…
Download PDF Introduction With IPO window open again, markets start to see more deals coming in, however, the pace is different across regions. While in the US alone 10 large IPOs were priced the week of 8 – 14 September with more companies in pipeline, the European market is Read more…
Download PDF Introduction Switzerland has long been a symbol of financial stability as a nation whose conservative banking culture, strong currency, and independent central bank made it a safe haven in times of global stress. Yet beneath this reputation lies a paradox. The very institutions meant to anchor stability now Read more…
Download PDF Introduction (to Exchange Rate Models) Exchange Rate Models are widely used by entities ranging from central banks to international financial institutions to assess exchange rate misalignments. Strong and persistent departures from equilibrium levels are thought to have a substantial bearing on growth prospects, price dynamics, or even financial Read more…