Climate Change is Disrupting Global Trade

November 15, 2023--Panama's drought shows how trade disruptions from climate extremes can reverberate around the world
Around 1,000 ships pass through the Panama Canal each month carrying a total of over 40 million tons of goods-about 5 percent of global maritime trade volumes.

But water levels in this vital link between the Atlantic and Pacific oceans have fallen to critical lows because of the worst drought in the canal’s 143-year history.
Drought restrictions imposed amid insufficient rainfall at the Gatun Lake, which feeds the canal, have reduced throughput by some 15 million tons so far this year. Ships have faced an additional six days in transit. The authorities are exploring strategic options to boost the water supply in the canal.

As the Chart of the Week shows, ports in Panama, Nicaragua, Ecuador, Peru, El Salvador and Jamaica are suffering most from these delays, with 10 percent to 25 percent of their total maritime trade flows affected.

Even as Global Uncertainty Surges, Economic Sentiment Remains Positive

November 10, 2025-Amid rising geopolitical rifts and trade tensions, global economic uncertainty has surged, yet sentiment about economic prospects remains positive
Major policy shifts this year have been adding to unknowns about the future and policy decisions, according to our World Uncertainty Index which has doubled since January.

Gold Market Commentary: Technical difficulties October 2025

November 6, 2025-Key takeaways for the month:
Gold hit its 50th all-time high but faced a rollercoaster ride due to a momentum flush-out and a stronger dollar. Despite this, gold posted solid gains for the month.
Looking ahead, technical indicators suggest a short pause, but the overall trend remains strong, supported by solid fundamentals.