Barclays Research takes stock of the effects of Russia’s war with Ukraine in the 2022 Equity Gilt Study
13.7.2022 10:00:00 EEST | Business Wire | Press release
Barclays Research today released the 67th edition of the Equity Gilt Study (EGS), a flagship annual publication. Combining market-leading macro analysis with a unique multi-asset dataset spanning over 100 years, this year’s report takes stock of the effects of Russia’s war with Ukraine.
Barclays’ Research analysts survey the future of the European monetary union, arguing that Europe has often moved towards further integration during crises, and the recent past is no exception. The pandemic and the war in Ukraine have forced member states toward more fiscal and political co-operation. This includes a common diplomacy and defense policy, as well as a common energy policy.
Barclays Research argues that fears about the US dollar losing reserve currency status are greatly overstated. With the EMU still not fully integrated fiscally and politically and with the Chinese RMB only partially convertible, there are no good substitutes for the US dollar. Instead, large exporters might try to reduce their US current account surpluses by focusing more on regional trading blocs, in an attempt to diversify their foreign reserves.
In parallel, Barclays’ analysts note that the war is leading governments and corporations to re-examine the resilience of their supply chains and other economic linkages. That could lead to at least a partial reversal of the multi-decade trend of globalization. Already, our analysts see evidence of a “reshoring” of critical processes and infrastructure, and of multinational companies hiring closer to home.
Finally, Barclays’ analysts consider the implications for the macroeconomic environment, which, over the past three decades, has benefited from a period of “Great Moderation”, characterized by a relatively stable backdrop of growth, inflation, and monetary policy. We think this may be changing, with significant implications for macroeconomic stability.
“In this year’s Equity Gilt Study, Barclays’ analysts explore how the war in Ukraine, coming on the heels of the pandemic, will likely permanently re-shape the macro landscape,” says Ajay Rajadhyaksha, Global Chairman of Research at Barclays. “The Equity Gilt Study provides an indispensable tool to understand the themes and trends affecting global economies and markets for years to come.”
>>> Clients can gain access to the full EGS at Barclays Live
>>> To learn more about our Research offering and view recent insights, click here
Notes for Editors
Since 1956 Barclays’ Equity Gilt Study has provided uniquely rich data, analysis and commentary on long-term asset returns in the UK and US. Data for the UK goes back to 1899, while the US data, provided by the Center for Research in Security Prices at the University of Chicago, runs from 1925.
About Barclays
Barclays is a British universal bank. We are diversified by business, by different types of customer and client, and geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Barclays Group. For further information about Barclays, please visit our website home.barclays.
About Barclays Corporate and Investment Bank
Barclays is a consumer and wholesale bank, supporting individuals and small businesses through our consumer banking services, and larger businesses and institutions through our corporate and investment banking services. Our Corporate and Investment Bank is comprised of the Investment Banking, International Corporate Banking, Global Markets and Research businesses; it provides money managers, financial institutions, governments, supranational organisations and corporate clients with services and advice for their funding, financing, strategic and risk management needs. For further information about Barclays Corporate and Investment Bank, please visit our website www.cib.barclays.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220713005235/en/
Contact information
Ann Thielke
212-526-1472 (US)
ann.thielke@barclays.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Pantheon Expands Middle East Presence With New Abu Dhabi Office and Senior Regional Appointment30.9.2026 13:56:00 EEST | Press release
Pantheon, a leading global private markets firm with approximately $84bn in assets under management, today announced the expansion of its presence in the Middle East with the opening of its first office in ADGM, the international financial center based in Abu Dhabi, alongside the appointment of Firas Mallah as Managing Director and Head of Middle East. Demand for access to private equity, infrastructure, and private credit strategies continues to build among sophisticated investors across the Middle East, who recognize Pantheon for its 40-year track record of innovation and expertise across primaries, secondaries and co-investment opportunities. Secondaries – pioneered by Pantheon in 1988 – remains a defining thread across the platform: alongside its long-established private equity secondaries business, Pantheon has among the industry's first and largest private credit and infrastructure secondaries franchises, making it a strong partner in that space across the GCC. These strategies a
34% of Global Consumers Say They Are Worse Off Financially Than a Year Ago as Households Adapt to a New Era of Permanent Uncertainty, NIQ Finds30.9.2026 13:45:00 EEST | Press release
With over a third (34%) of global consumers saying they are financially worse off than they were a year ago, and another third (30%) saying they are financially better off, consumers are no longer waiting for economic conditions to improve. Around the world, households are adapting to a future where volatility remains a persistent reality, creating increasingly different financial outcomes, spending priorities, and pathways to growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260930542911/en/ NIQ's Consumer Outlook: Guide to 2027 These findings come from NielsenIQ’s (NYSE: NIQ) latest global Consumer Outlook survey of more than 21,000 respondents across 31 countries, combined with NIQ's measurement of real-world purchasing behavior. The research reveals that economic uncertainty is no longer a temporary disruption, but a defining feature of how consumers make decisions. Findings include: 34% of global consumers globally
Neutrogena ® , Aveeno ® , and Regaine ® Present New Scientific Evidence Demonstrating How Science-Backed Ingredients Support Healthy Skin and Hair30.9.2026 13:45:00 EEST | Press release
Neutrogena®, Aveeno®, and Regaine®* will present 12 new scientific data sets at the 35th European Academy of Dermatology and Venereology (EADV) Congress taking place September 30th through October 3rd in Vienna. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260930489298/en/ New Neutrogena science showcased at EADV 2026 in Vienna, Austria Abstracts presented will share new evidence demonstrating how science-backed ingredients including niacinamide, trehalose, colloidal oat and 5% minoxidil can help address some of the most common skin and hair concerns consumers experience, including acne, oily skin, dry skin, hyperpigmentation, eczema, UV-related skin damage and androgenetic alopecia. The findings reinforce a growing body of evidence showing that innovative formulations can deliver benefits beyond traditional expectations by helping protect and strengthen the skin barrier, improve visible skin concerns, and support hair reg
Compass Pathways Appoints Kelley Boucher as Chief People Officer30.9.2026 13:30:00 EEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced the appointment of Kelley Boucher as Chief People Officer, effective today. This appointment strengthens the Compass executive team as the company continues to scale in support of its mission to bring the first classic psychedelic treatment to the field of psychiatry. In this role, Ms. Boucher will oversee the Company’s people strategy, with an initial focus on guiding its planned evolution towards the launch of COMP360 psilocybin, subject to FDA approval, in the first half of 2027. "We are thrilled to welcome Kelley to our executive team at this pivotal moment in Compass’ journey. As we prepare for our NDA submission in the fourth quarter of this year, we are closer than ever to achieving our goal of introducing an entirely new treatment model in mental health care with COMP360 psilocybin," said Kabir Nath, Chief Executive Officer a
NIQ Expands Google Relationship with Meridian Integration into NIQ Cadence™30.9.2026 13:30:00 EEST | Press release
NIQ (NYSE: NIQ), a leading consumer intelligence company, today announced the expansion of its relationship with Google through the integration of Meridian, Google's open-source MMM framework, into NIQ Cadence™, NIQ's AI-native marketing effectiveness operating system. The strategic partnership gives marketers a single place to measure marketing performance and act on it, shortening the distance between insights and optimization. Marketing leaders are under growing pressure to prove the return on every media dollar, and traditional measurement has struggled to keep pace. In NIQ’s latest CMO Report, 74% of CMOs said they were under more scrutiny to prove marketing ROI, while just 9% felt they had adequate access to real-time insights. NIQ Cadence™ was built to help close the 65-point actionability gap between accountability and timeliness. Rather than treating measurement as a one-time event, the integration brings Meridian into NIQ Cadence™, a unified platform which brings data, models
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom