ING Economic and Financial Analysis

Power prices are notoriously volatile and hard to predict. But they are an important value driver of investment in the energy system. This article provides a conceptual framework to analyze power...

Parts of the commodities complex appear to be running out of steam, with downward corrections seen in metals and agriculture over June. However, energy remains well supported, and the short-term...

Our economists reviewed the predictions they made in our economic outlook last November and reflect on what the implications are for the rest of the year.United StatesBack in December, optimism...

The path to a net-zero economy has dual implications for aluminum on both the supply and demand side. That may see the aluminum market shift into deficit in the medium term. In the short run, rising...

So much liquidity has been pumped into the system that chunks of it are being offered back to the Federal Reserve, at zero percent. Perverse, as players are effectively shuffling excess reserves back...

Chip demand continues to rise and Taiwan, the world's biggest chip manufacturer by far, is now facing three fresh challenges which will impact everything from cars to phones to fridges. The crisis...

Here we explain why some asset managers continue to favour US Treasuries, while liability managers do the opposite by funding in EUR (and JPY a.o.). Not just based on obvious rate differentials, but...

It’s not easy to grasp the rhythm coming from the US right now. Like any good hip hop mix, the rap is upbeat but the rhyme has a complexity to it. Inflationary tendencies are setting a hot beat,...

A pretty woeful jobs report for April is likely more a reflection of structural rigidities and supply constraints rather than any meaningful weakening in demand for labour. The economy will regain all...

The threat of new trade wars is smaller, but tension hasn’t let up between the US, EU and China. Exporters continue to face higher costs and uncertainty that could weigh on trade growth after...

"Hey neighbour, here's $100. Give me back $91 in 10 years and you're good! Just pay me the inflation rate..." That's the negative real rates market of today, not in the inverted eurozone rates space,...

China's economic recovery seems to be sustainable, although the high GDP growth number was partly due to the low base effect. Given this background, the government has determined that the economy...

Falling Covid-19 prevalence and widespread vaccinations have boosted confidence in the durability of the recovery. Several data points are at post-pandemic highs and that suggests second-quarter...

Metals prices are flirting with record levels, agricultural markets are trading at multi-year highs, and oil has staged an impressive recovery. The post-Covid-19 recovery is clearly bullish for...

As many developed markets tentatively begin to emerge from the Covid-19 pandemic, attention is turning to taper and tightening in many economies. Here's what to expect from the major central banks...

Of the $4tn of extra spending proposed by President Biden, $2.2tn looks set to go on green and sustainability-related infrastructure investment. This won't on its own be enough to deliver on the...