People walk along a pebbled beach during sunset as a heatwave hits France, in Cayeux-sur-Mer, France, June 29 2019. Picture: REUTERS/PASCAL ROSSIGNOL
People walk along a pebbled beach during sunset as a heatwave hits France, in Cayeux-sur-Mer, France, June 29 2019. Picture: REUTERS/PASCAL ROSSIGNOL

Hot but unbothered

The US is a clear outlier in terms of public scepticism of the threat of climate change, according to a survey released ahead of a major UN climate summit in New York where 60 heads of state are expected to make new climate pledges. They will not include US President Donald Trump, however. The survey found that 15% of Americans believe either that the climate is not changing at all, or that it is not changing due to human causes. This figure is the highest of any country in the world, and almost three times the global average.

Financial Times

SLASH & BURN: Turkey has led the way among big emerging-market central banks this year, slashing base rates by 750 basis points to 16.5%, while India has cut by 110 basis points to 5.4%. Picture: Bloomberg/Miguel Angel Sanchez
SLASH & BURN: Turkey has led the way among big emerging-market central banks this year, slashing base rates by 750 basis points to 16.5%, while India has cut by 110 basis points to 5.4%. Picture: Bloomberg/Miguel Angel Sanchez

Doves on the wing

Emerging-market central banks are more dovish than at any point since at least the global financial crisis, according to Bank of America (BofA) Merrill Lynch’s Emerging Monetary Mood Indicator. The survey is based on robotic scanning of keywords used in the publications of 11 big emerging-market central banks. BofA says the dovishness should be supportive for emerging-market equities and bonds, but not currencies.

Financial Times