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The past, present, and future are seemingly converging as unprecedented circumstances continue roiling markets again, and again, and again. The so-called new normal that market participants have been hopeful will emerge in a post-pandemic world appears to be shaping into one of near constant volatility. But this world redefined may, at the same time, also be more resilient to such shocks.
Asian utilities, power generators and gas importers are bracing for unprecedented fuel supply disruptions this winter, with their European counterparts no longer ruling out the possibility that Russia could fully turn off gas supply to the region.
Natural gas accounts for around 24% of global energy supply, and just 11% of Asia's energy mix. But the dependency in Asia is concentrated in a few countries that pivoted to seaborne LNG for electricity generation.
These countries have initiated a range of contingency measures, some of which kicked in to meet the recent peak summer demand season. They include short-term gas procurement strategies, electricity and gas rationing to essential services, load shedding and enforcing restrictions on power consumption.
The private debt market has grown tenfold in the past decade with assets under management of funds primarily involved in direct lending surging to $412 billion at end-2020—spurred in part by investors’ search for higher yield.
As high inflation continues to affect economies worldwide, the global steel market is feeling the effects. Demand for the metal has dipped, and some countries—including China—are expecting potential output reductions.
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