Covid-19 looks set to leave a trail of economic damage that will outlive the spread of the virus. Government and central bank stimulus on a huge scale has led to a dramatic rise in debt levels. Taxes look set to rise to pay off this debt.
Tesla became the world’s biggest car manufacturer by value, taking pole position from Toyota. Despite the fact that Tesla produced only 360,000 vehicles last year, compared to almost 9 million for the Japanese giant.
It’s an asset class that might seem a bit marginal and more than a little mysterious. But since the first AAA-rated ‘green bond’ was launched by the World Bank in 2007, the market has grown enormously.