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2024-05-16 at 10:38  Timo Löyttyniemi
The green transition presents a major global challenge, which has recently been aggravated by a number of new obstacles. Geopolitics has affected policy-makers’ priorities, high interest rates are creating uncertainty among investors, and global...
2024-04-11 at 13:25  Timo Löyttyniemi
Geopolitics has changed for decades to come. A global division of states into separate camps is underway, coupled with the rise of the defence industry around the world. For Europe and Finland, this transition offers a major opportunity to expand...
2024-03-14 at 14:19  Timo Löyttyniemi
For a long time now, investors have been keen to increase investments in private markets outside stock-exchange markets. The trend held up until 2022. As the values of listed equities and debt securities plummeted in 2022, many institutional...
2024-03-08 at 13:24  Timo Löyttyniemi
Investors are waiting and hoping for interest rates to fall in Europe. Underlying these expectations are the decreasing inflation figures that are approaching the regular 2% mark. The latest published consumer inflation rate was 2.6%. This is...
2024-01-26 at 11:55  Timo Löyttyniemi
Whatever central banks say has an impact. Their communications and statements are needed because there is a lot of confidence in central banks. In the latest Bank of America survey, institutional investors were reported as saying that by far the...
2023-12-14 at 11:02  Timo Löyttyniemi
The themes for 2024 are largely the same as for 2023, primarily geopolitics and monetary policy, followed by a weakening economy. At least as far as geopolitics is concerned, 2024 could well be described as the “year of solutions”. As the list ...
2023-11-24 at 11:18  Timo Löyttyniemi
The Dutch pension system is being completely overhauled. The Mercer Global Pension Index ranked the Dutch pension system as the best in the world in its October report this year. Nevertheless, the system will be completely overhauled. T...
2023-10-11 at 12:50  Timo Löyttyniemi
A pension investor is called upon to make several assumptions. They are necessary at the system-wide level, for investment activities as well as for determining pension liabilities. What are the key assumptions for a pension investor? Wh...
2023-10-06 at 12:19  Timo Löyttyniemi
The efforts to develop any pension system are very much path-dependent. The starting point is the current state of the system, which determines the options available for developing it. However, it makes sense to examine the big pictur...
2023-09-21 at 13:58  Timo Löyttyniemi
It is a time of change in geopolitics. Many things drive economies and economic systems apart. Globalisation, and in particular financial globalisation, is taking a step backwards. Similarly, technological development, production and technologic...
2023-06-28 at 14:37  
The real estate market plays a major role in the economy. The long period of low interest rates has pushed up property prices and also enabled brisk new construction. However, the real estate market is now in a state of flux, with several factors...
2023-05-16 at 11:13  Timo Löyttyniemi
Interest rates are now at normal levels and this makes for a new investment environment. If there is one good thing to come out of inflation, it is the normalisation of interest rates.  The changes are considerable. The leap in the interest...
2023-03-29 at 11:35  Timo Löyttyniemi
A crisis needs a fitting name. The financial markets are struggling with problems that make it necessary for governments and central banks to step in. The current situation meets the criteria for financial instability. We should find a descriptive...
2023-03-29 at 11:07  
In recent weeks, we have received news of crises threatening a number of banks. People wonder if this means a new banking crisis or if it is just a crisis affecting a few banks. After all, there is a big difference between the two. Is there cause...
2023-03-03 at 7:40  Timo Löyttyniemi
Governments are increasingly trying to outdo other countries by pursuing an active industrial policy. It appears that faith in the power of industrial policy is making a comeback. The doctrines of a pure, free market economy and free trade take a...
2023-02-02 at 15:41  Timo Löyttyniemi
The US stock markets have long been a favourite of investors who have been attracted by hefty returns. Another factor boosting investor interest has been the strengthening US dollar. But something new is happening right now. In recent weeks, there...
2022-12-15 at 16:36  Timo Löyttyniemi
The past few years have been marked by a series of unexpected crises. Covid-19 set in quickly without warning, shaking up economies and business as usual in 2020 and translating the risk of a pandemic into reality. Just when we were recovering...
2022-11-02 at 11:49  Timo Löyttyniemi
Europe and the European civilisation have long traditions that have been refined over time. The European tradition and ideals include democracy, the rule of law, freedom of the individual and information, the market economy, and a limited role for...
2022-10-12 at 11:35  Timo Löyttyniemi
The electricity market made painful waves in August 2022. The price of electricity rose to record levels and the availability of electricity became uncertain. Many believe that we are heading for a cold winter, not just outdoors but also indoors....
2022-10-07 at 12:13  pension liabilities, pension system, funding ratio, interest rate, central bank
All looked well in the United Kingdom. The pension system had been underfunded for a long time and now, as interest rates spiked upwards in early 2022, the funding ratio of the system increased to exceed 125%, despite the fact that the market...
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