The MUFG Global Markets Podcast

How hard will Asian currencies be hit by the fallout from a second Trump presidency?

Lee Hardman, Senior Currency Analyst in London talks to Lloyd Chan, Senior Currency Analyst in Singapore, about the implications for Asian currencies from a second Trump Presidency.
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Back to basics approach to sustainable investing post US elections?

Concerns about energy reliability, green premiums and political polarisation in recent months – that have been magnified by the outcomes of the US presidential elections – are raising questions about sustainable investing’s ability to deliver both positive impacts and strong returns on investments (RoI).
In this week’s podcast, Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), delves into this pertinent theme. He believes that moves by investors towards long-term sustainable themes such as financial materiality, a broadened investable universe, and engagement over exclusions, have the potential to augment performance and keep sustainable investing on solid ground, independent of the political order of the day as well as certain narrowing in interpretations of fiduciary expectations.

What’s next for the USD after the US election?

Donald Trump achieved a decisive victory in the US election. Lee Hardman, Senior Currency Analyst talks to Michael Owen, Head of Global Client Desk EMEA, about the implications for the USD from a second Trump presidency.  
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Trump 2.0 implications for the world of ESG

Donald Trump has won the White House and Republicans have won a larger-than-expected majority in the Senate. The outlook for the House is still unclear but leans toward a very narrow Republican majority and therefore a Republican sweep. This outcome is set to have significant reverberations on a plethora of ESG dimensions.
In this week’s podcast, Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), examines the ESG implications from president Trump’s second term in office.
He believes that top of mind will be amendments to the US Inflation Reduction Act (IRA) – the largest piece of climate legislation in US history – with the focus on less of a full repeal (given the majority the surge of IRA investments and jobs created has predominantly flowed to Republican congressional districts), but rather targeted reductions on loan guarantee and grant programmes as well as consumer tax credits, such as electric vehicle purchases – particularly around foreign entity of concern (FEOC) requirements.
A broader risk is the formal US withdrawal from the Paris Agreement in early 2026 (akin to Trump 1.0), with a larger emphasis on fossil fuels, with decarbonisation efforts likely to become more nuanced and led by state policies as well as private sector initiatives.

US election impact on ASEAN

Lloyd Chan, Senior Currency Analyst at MUFG Global Markets Research Asia, speaks this week about the potential growth, monetary policy, and FX implications on ASEAN from a Harris election victory and a Trump election victory. Lloyd also highlights which ASEAN economies and currencies would underperform in an adverse Trump scenario, where 60% US tariff is imposed on all Chinese imports while a 10% blanket tariff is imposed on US imports from all other countries. 
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The US dollar into and beyond the US elections

Following the release of the US jobs report Derek Halpenny, Head of Research, Global Markets EMEA & International Securities, discusses with Simon Mayes, Head of UK, Ireland & Swiss Corporate FX Sales about the potential implications ahead of the FOMC next week. Derek also outlines the FX implications on a Harris election victory and a Trump election victory and highlights some polling analysis from NBC News. The discussion also covers the GBP impact following the UK budget this week.
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The US election energy transition playbook

The US presidential election will take place on 5 November and polls indicate a tight race. In this week’s podcast, Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), examines the potential impacts on clean energy post US elections.

What's next for the JPY after Japan steps up intervention threat?

Lee Hardman, Senior Currency Analyst, and Abdul-Ahad Lockhart, Currency Analyst, discuss why the JPY has weakened sharply this month. How are the political risks impacting JPY performance? 
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What does success at the COP16 biodiversity summit look like?

Every two years, global leaders gather to negotiate agreements to preserve biodiversity and stop the destruction of nature. This week, representatives of 196 countries are gathering in Cali, Colombia, for the 16th UN Conference of the Parties summit, commonly known as COP16, which runs from 21 October through to 1 November.
In this week’s podcast, Ehsan Khoman, Head of Research – Commodities, ESG and Emerging Markets (EMEA), delves into the significance of the summit as well as contextualising what are the key watchpoints for corporates and investors.

RBI and Indian Rupee amidst US Election Risks

Michael Wan, Senior Currency Analyst with MUFG Global Markets Research Asia, and Japinder Singh, Vice President Treasury Sales, MUFG India discuss key driving factors behind RBI monetary policy decision and INR in the context of US Elections and what that could mean for the Dollar and Fed policy. 
 
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