Sustainability means more than just green bonds

Sustainability is driving innovation in investment-grade credit. This is particularly visible in the euro-denominated market, although we expect that the Biden administration will encourage a sustainability focus in the USD market going forward. When talking about sustainability in the bond market, this means more than just green bonds. In fact, the green, sustainable, and social (GSS) bond market has grown exponentially and has diversified into many different sectors and types of bond structures. Over the past three years, the total notional value of the ICE BofA Green Bond Index increased by almost fourfold.

U.S. sanctions on Russia: Potential impact

The recent sanctions imposed by the Biden administration represent a significant escalation in pressure on the Russian government in the wake of a variety of actions that President Biden and his advisors felt had not been fully addressed. This includes the Solar Winds hack, election interference, and the poisoning of dissidents on foreign soil, among others. My read on the sanctions are as follows: