Nick Andrews
Europe Analyst
Nick has spent the last 12 years involved in trading, analyzing or writing about European markets and the global economy. At Morgan Stanley for seven years he divided his time between the interest rate swap and repo markets before returning to university to complete a masters in economics. During that time he also wrote for the Wall Street Journal covering fixed income markets. After graduating in 2011 from London's Birkbeck College, he worked for David Roche's investment consultancy, Independent Strategy, before joining Gavekal Research in 2013. Nick also has a degree in engineering from Edinburgh University.
For Nick's article archive click here.
The Daily
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Gavekal Research
March 3, 2021
The Problem With Europe’s Inflation
Later this year, eurozone consumer price inflation should hit its highest level in more than a decade. We found out on Tuesday that February’s consumer prices rose by 0.9% year-on-year, and more price hikes are in the works.
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Gavekal Research
February 19, 2021
Draghi’s Reform Plan And Asset Prices
Newly installed as Italy’s prime minister at the head of a broad coalition, on Wednesday Mario Draghi outlined an ambitious agenda of structural reforms. Notably, the former European Central Bank chief wants to oversee a root-and-branch overhaul of Italy’s tax system, while investing in the education system and streamlining public administration.
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Gavekal Research
February 16, 2021
The Long Bond Bait And Switch
Ultra-long bond issuance is back in vogue in Europe. This month Spain has sold €5bn of 50-year bonds at a yield of 1.45%, while Belgium snapped out a 50-year issue at 0.69%. In January it was France, which sold a 50-year at 0.59%.
Ideas
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Gavekal Research
November 13, 2020
Biden And Brexit
Despite the UK enduring another Covid lockdown and facing a key Brexit deadline on November 15, its political class spent this week obsessing over a personality struggle inside the prime minister’s office.
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Gavekal Research
August 25, 2020
A Bottom In Sight For European Banks
No sector has been so beaten down as eurozone banks. But although bad loan ratios are rising, and further big writedowns are on the cards, this bad news is in the price. What is less adequately priced in is the change in policy from the European Union which means there will be no early return to austerity.
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Gavekal Research
February 13, 2020
Paying Your Way In The UK
A triumphant Boris Johnson is set on consolidating a new electoral coalition through big infrastructure projects that help “level up” forgotten regions, but he faces a weak economy and tough negotiations with the European Union over Britain's trading relationship.
Videos
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Gavekal Research
February 26, 2021
Webinar: Europe And The Politics Of Exiting The Pandemic
Europe is at a strange juncture, as governments remain committed to massive fiscal and monetary support and refuse to rush into any economic reopening before Covid vaccinations are deployed.
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Gavekal Research
January 28, 2021
Video: The UK — At The Center Of The Maelstrom
It’s been an especially stormy start to the year for the United Kingdom, which finds itself at ground zero for the spread of a new and highly infectious strain of the coronavirus, even as it struggles to cope with withdrawal from the European Union’s single market and customs zone.
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Gavekal Research
January 20, 2021
Webinar: Europe’s Cruel Winter
As the pandemic intensifies across Europe growth prospects in the first quarter are dimming, but investors are focused on a potential economic reopening by the spring.