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  • Signs are growing that Western companies may be on the verge of a wave of moving manufacturing from China to other emerging markets and ‘re-shoring’ them to the home country, a trend that could have profound implications for markets and international politics.
  • Morgan Stanley Investment Management has introduced an open-ended equity fund concentrating on high quality companies in emerging market economies.
  • Société Générale and Natixis have purged their senior ranks following second-quarter losses and to prepare for strategic revamps, but David Rothnie thinks the future will remain challenging for both.
  • SSA
    Many saw the US Federal Reserve’s decision to lend hundreds of billions of dollars to certain central banks at the height of the coronavirus crisis as pivotal in preventing further calamity in global markets. Brad Setser, senior fellow for international economics at the Council of Foreign Relations, gives a great deal of credit to the Fed for its forceful intervention. But if markets begin to see the US central bank as a global lender of last resort, there may be a greater risk of imprudent behaviour and more political tumult in the US.
  • European equity capital markets are gearing up for a wave of autumn IPOs and are worrying that they will struggle for investor attention. But one of the few good things to have emerged from the coronavirus pandemic — the use of technology to accelerate deal calendars — should alleviate fears of congestion.
  • Christina Too and Gordon Butterworth will join Deutsche Bank as managing directors in its healthcare investment banking coverage and advisory team for Europe, the Middle East and Africa.