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Compound Interest - PIC's Quarterly Update Q1 2024

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In this fourth issue of Compound Interest, our quarterly Thought Leadership publication, we look at the topical issue of geopolitics, including potential market impact and government borrowing costs, and what it might mean for wider investment in the economy. We also speculate on a potential return of Quantitative Easing (QE).

If 2023 was defined by heightened geopolitical tensions, 2024 promises even more of the same. In this edition of Compound Interest we take a look at how geopolitics affects the markets, government borrowing costs and a potential return of Quantitative Easing (QE), wider investment in the economy, and what we might expect in the year ahead.

In this issue

  • Sir David Lidington, Chair of the Royal United Services Institute (RUSI),Guest article setting the scene on geopolitical risks in 2024
  • Hartej Singh, PIC’s Head of Public Credit, explains how geopolitics affects the markets and the thinking of long-term investors
  • Dr Vladan Martinovic, Senior Debt Origination Manager, explains why ports have a significant part to play in geopolitical considerations, and hence why they can be an interesting investment for long-term investors
  • Mitul Magudia, Co-Chief Origination Officer, provides an insight into how geopolitical considerations are discussed by trustee boards, and what they might mean for funding positions, and the impact on the pension risk transfer market in 2024
  • Jeremy Apfel, Managing Director, Corporate Affairs, looks at the lessons for the incoming UK government, which will have limited fiscal headroom, from the 2010 government’s attempts to woo international investors to invest in UK infrastructure and underpin economic growth. 



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Please email any questions or observations to [email protected]

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