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Mario Castro, Senior FX & Rates Strategist  A weak dollar trend coupled with attractive carry has made LatAm markets attractive again. We expect the trend to continue but with some bumps down the road.  BNP Paribas | Global Markets (Recorded 24 May 2023)  For more information, please refer to : https://bnpp.lk/EyODgb     For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf  
Trevor Allen, Head of Sustainability Research  Megan Dale, Sustainability Research Analyst   Sumati Semavoine-Jain, Sustainability Research Analyst   BNP Paribas London Branch | Global Markets (Recorded 18 May 2023)  In this episode, we look into the latest developments in Sustainable Finance, reviewing: the progress seen at Earth Day, 2023 sustainable bond issuance and conclusions from the recent pilot testing of the TNFD.   For more information, please refer to : https://bnpp.lk/EyODgb   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Carl Riccadonna, Chief Economist, US  Yelena Shulyatyeva, Senior Economist, US Andrew Schneider, Senior Economist, US   Andrew Husby CFA, Senior Economist, US   BNP Paribas | Global Markets (Recorded 10 May 2023)  The latest data indicated banks tightened standards to an even greater degree than an already-elevated intensity at the end of last year and across all major categories. The breadth of tightening was only surpassed during the Global Financial Crisis (GFC) and the Covid pandemic.  The BNP Paribas US Financial Conditions Index, a quantitative tool to signal the relative restriction of financing conditions facing investors and the real economy in the US, currently augurs sharply slowing growth in economic activity in the second half of the year, to a level that is broadly consistent with our forecast for recession in H2 2023.  Inflation continues to run hot, but the increasingly well-defined peak in core services (and core services ex-shelter) should be welcome news to policymakers looking for further justification to pause rate increases and assess incoming information. For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Jeffrey Schultz, Chief Middle East and Africa Economist | BNP Paribas South Africa Branch Niccolo Carrara, Economist, Emerging Markets | BNP Paribas London Branch This podcast was recorded 2 May 2023 EM food prices look set to remain well above levels consistent with inflation targets even as base effects suppress year-on-year rates of price growth.  We expect inelastic food demand, supported by post-pandemic recoveries, to combine with supply risks, including export restrictions from large producers and constraints on energy-dependent agricultural inputs.  As food prices matter a great deal for EM inflation, central banks face a tough time taming inflation expectations.  Central banks’ task will be even harder if the risk of social turmoil resulting from elevated food prices tempts governments to step up fiscal subsidies.  Our food vulnerability indicator highlights particular potential for pressure in pockets of CEEMEA and EM Asia.  Fiscal responses to high food prices would also risk driving up risk premia as markets reassess EM fiscal sustainability amid higher debt-servicing costs. For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notic 
With:  Marcelo Carvalho,  Global Head of Economics Dani Stoilova, Economist, Europe Mariana Monteiro, Economist, Europe Megan Dale, Sustainability Research Analyst    BNP Paribas London Branch  | Global Markets (Recorded 25 April 2023)  The proposed Green Deal Industrial Plan would be net positive for the EU outlook, in our view, supporting private investment and new green and clean-tech jobs. Coming on top of the NextGenerationEU programme and other existing funds, the EU has the means to compete with the US in the green transition. A subsidy race or ‘green trade war’ looks unlikely, due in part to the prospect of a limited US–EU trade deal. However, we think the EU could do more to improve the efficiency of its funding, to address perceptions that it is on the back foot relative to the US, and to maintain cohesion between its member states. To the extent that this is another force supporting a trend of reshoring, the overall effect is likely to be inflationary over the next few years. At a sector level, we think EU plans stand to benefit solar in particular, but firms will require greater detail around these subsidies before committing to significant investments. For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Jason Lui, Markets 360 APAC Coordinator and Head of APAC EQDStrategy   Jacqueline Rong, Economist, Europe   Christopher B Li, Credit Trading Desk Analyst   BNP Paribas | Global Markets (Recorded 11 April 2023)  China’s economy and banking system are largely insulated from recent banking stress in DM countries, in our view.   Chinese policymakers’ campaigns against financial risks in the past five years and the PBoC’s cautious monetary policy stance have improved the health of the country’s banking sector.   The spillover of global credit stress to China’s banking system currently looks limited, thanks to abundant local liquidity and the market-friendly regulatory actions, though the property sector remains the weak link in accessing refinancing.   For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Spyros Andreopoulos, Senior Economist, Europe  Dani Stoilova, Economist, Europe  BNP Paribas | Global Markets (Recorded 03 April 2023)  The ECB might find the eurozone’s resilient labour market a tough nut to crack. After all, we see three factors behind the tight labour market: strong and resilient aggregate demand, labour shortages due to demographics and mismatch. As a result, the ECB may have to suppress demand sufficiently to deal with the cyclical reasons for labour market tightness as well as the structural ones. The bottom line is that the labour market is likely to be a key factor sustaining the ECB’s tightening cycle for a while longer. For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Pamela Díaz Loubet, Economist, Mexico BNP Paribas | Global Markets (Recorded 27 March, 2022)  We discuss Mexico’s monetary policy as the cycle nears its end. In particular, how the reaction function has changed after the financial turmoil and the extent to which the Fed might have influence over Banxico’s decisions.  For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With: Trevor Allen, Head of Sustainability Research   Paola Lamedica, Head of Credit ESG and Derivatives Strategy   Paola addresses climate transition and examines to which extent corporates and sectors are progressing towards their net zero pledges.  Intentions are good, excellent even but it’s reality that lets us down. Some sectors are worse than other, especially within high-emitters.  We analyses whether investors are currently positioned to take into account this dievergence between targets and progress.  We also highlights which corporates in O&G, Chemicals and Mining stand out as making good progress towards their targets and which are completely off track. BNP Paribas London Branch | Global Markets (Recorded 07 March 2023)  For more information, please refer to : https://bnpp.lk/EyODgb   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
Trevor Allen, Head of Sustainability Research   Sumati Semavoine-Jain, Sustainability Research Analyst   With the IRA, the US looks to boost domestic growth, tackle supply chain vulnerabilities and offer more policy certainty, mostly in the form of tax credits. The US approach is in stark contrast to that of the EU, adopting more of a 'carrots without sticks' strategy, in our view. In turn, it might push the EU to provide more ‘carrots’. We expect the IRA to offer a competitive advantage to companies with business activities that focus on energy transition, and those with a local footprint. BNP Paribas London Branch | Global Markets (Recorded 06 March 2023)     For more information, please refer to : https://bnpp.lk/EyODgb   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
Trevor Allen, Head of Sustainability Research   Paola Lamedica, Head of Credit ESG and Derivatives Strategy Sumati Semavoine-Jain, Sustainability Research Analyst  Trevor, Paola and Sumati respond to Isabel Schnabel’s recent speech on greening the ECB bond portfolio.  The ECB's tilt towards Green and sustainable bonds will remain strong.  Within the most polluting sectors, they expect the highest emitters to come under increased scrutiny by the ECB, as they wish to incentivise corporates to aim for the best-in-class in their sector.  In the public sector space, they think the ECB to buy a larger share of sustainable bonds issued by supranationals and tilt sovereign and agency purchases towards Green bonds.  BNP Paribas London Branch | Global Markets (Recorded 26 January 2023)     For more information, please refer to : https://bnpp.lk/EyODgb   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
Trevor Allen, Head of Sustainability Research   Sumati Semavoine-Jain,Sustainability Research Analyst  While 2022 was about uniting and goal-setting in biodiversity, upcoming years will be about follow-through and execution. We present our views on how COP15, the biennial UN Biodiversity Conference, will translate into policy and market-driven changes in the near future, and steps required for significant progress.  BNP Paribas London Branch | Global Markets (Recorded 17 January 2023)     For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
Trevor Allen, Head of Sustainability Research   Sumati Semavoine-Jain, Sustainability Research Analyst  In 2023, we expect global green bond supply to recover and potentially exceed 2021 volumes as transition remains a priority, and as investors return to bond markets. The 2023 increase will mostly come from Europe and Asia we think. ESG investing is becoming more thematic. For green bonds, this means investors will look for more diversity in the use of proceeds, and apply more scrutiny on the issuer’s transition strategy.  BNP Paribas London Branch | Global Markets (Recorded 11 January 2023)     For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
Trevor Allen, Head of Sustainability Research   Sumati Semavoine-Jain, Sustainability Research Analyst  As we concluded in Biodiversity: The price and value of natural capital, progress in measuring and correcting externalities is under way. The COP15 dedicated summit on biodiversity is finally taking place this month and will set the bar for the coming decade. We present a biodiversity basket in the fixed income space that gathers our high conviction issuers, committed to reversing biodiversity loss. In our view, credit portfolios would welcome such exposure, which would contribute to diversifying away from financials and utilities. We expect investor demand for biodiversity-related corporates to increase as the theme gains political traction. BNP Paribas London Branch | Global Markets (Recorded 7 December 2022)     For more information, please refer to https://markets360.bnpparibas.com    For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf    
Trevor Allen, Head of Sustainability Research   Megan Dale, Sustainability Research Analyst  Trevor and Megan discuss the key topics at COP27, and how they see this shaping sustainable finance markets. They analyse what was in line with expectations, what was not, and what to expect going forward.  For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
Trevor Allen, Head of Sustainability Research   Megan Dale, Sustainability Research Analyst  Trevor and Megan discuss the key topics at COP27, which will take place over the next fortnight. In particular, they highlight: which emitters will make more ambitious climate targets (or not), why the adaptation will be a focal point, and which different initiatives may help to fund these goals.  For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With  Carl Riccadonna, Chief Economist, US | BNP Paribas Securities Corp Andrew Schneider,  Economist, US   | BNP Paribas Securities Corp Thomas Rosenkoetter,  Head of Government Affairs |  BNP Paribas Securities Corp In this podcast, Chief US Economist Carl Riccadonna,  Head of US Government Affairs Tom Rosenkoetter and Senior US Economist Andy Schneider discuss what’s at stake based on the likely results of the US midterm elections.   For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Trevor Allen, Head of Sustainability Research   Sumati Semavoine-Jain, Sustainability Research Analyst BNP Paribas | Global Markets (Recorded 17 October 2022)    Trevor and Sumati are back to discuss biodiversity, and more specifically, how it can be addressed within equity portfolios.  Biodiversity remains a minor determinant of corporate ESG scores, and there is no readily available single metric to monitor a company’s effect on nature. Identifying investment opportunities, therefore, requires a tailored approach.  Our methodology looks at the flow of natural resources in supply chains (how corporates source, manage, monitor and recycle them) and aims to identify both: ‘enablers’, providers of solutions for change and ‘leaders’, early adopters of change.  For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Trevor Allen, Head of Sustainability Research   Sumati Semavoine-Jain, Sustainability Research Analyst BNP Paribas | Global Markets (Recorded 14 September 2022)    Underpricing of biodiversity has caused unsustainable depletion of natural resources, with limited costs to harmful industries. But progress to measure and correct externalities is under way. Investors should start mapping their portfolios’ dependencies and impacts on nature, just as they monitor greenhouse gas emissions. We see a particularly significant financing gap in emerging markets, as they tend to face higher physical and transition risks than developed markets and to be richer in biodiversity.  For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf   
With:  Trevor Allen, Head of Sustainability Research  Spyros Andreopoulos, Senior Economist, Europe  BNP Paribas | Global Markets (Recorded 5 September 2022)   What does the net zero transition mean for inflation and how could renewable energy help to cool down prices.  For more information, please refer to https://markets360.bnpparibas.com   For country-specific disclaimers and legal notices, please refer to https://globalmarkets.bnpparibas.com/gm/home/Markets_360_Country_Specific_Notices.pdf  
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