Hints and tips:
...If you can do what Timi says and drop down to it to a lower level, that’s one way of dealing with it. If you do have to stop, then don’t forget to start again....
...Emilie Bellet Yeah, because they drop out of the workforce. And when you don’t earn, you actually don’t, you know, contribute to your national insurance....
...Anonymous: The UK economy will lag other DM economies in 2023, with households feeling increased job security but greater pressure on their finances....
...I think the extent to which, really, Putin has become the state, it's like maybe - I might be getting the French king wrong, but I think it's Louis XIV who said, l'etat c'est moi - I am the state....
...However, it also guided to net E&C margins (E&C is ~75% of revenues) of only 2.0-2.25% versus our prior forecast of 4.7% and a ‘normal’ expectation of 5-6%....
...The slack is only partly taken up by France P&C which is over distributing....
...Within DMs, the euro area will see the most downside as full-year growth contracts at -5.0%Y....
...Instead we have seen an 8.5% drop in valuations last week, on top of already ultra-low valuations....
...DM markets....
...EM equities have outperformed DM ones lately, which we expect to continue....
...Across the Emerging Markets, we assume a 15% volume decline in 2020, to account for the fact that currently not all EM markets are in lockdowns, while the majority of DM are currently on hold....
...In 2021, assuming current spot, the fuel bills across the space could drop >20%”....
...Both suggest that equity prices and sentiment levels can drop further, as we illustrate in the following statistics: In both 1987 and 1998 European, UK and US equities fell by between 25% and 35%....
...To put this in context, in the previous five recessions the average drop in EPS has been c. 40%....
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