Recession

• International Data Corporation ( IDC ) today published its second forecast for the worldwide quantum computing market, projecting customer spend for quantum computing to grow from $1.1 billion in 2022 to $7.6 billion in 2027.
• The forecast includes base quantum computing as a service as well as enabling and adjacent quantum computing as a service.
• The IDC report, IDC’s Worldwide Quantum Computing Forecast: 2023-2027: Surfing the Next Wave of Quantum Innovation (IDC #US49198322), provides a worldwide market forecast for a composite view of customer spend for quantum computing (hardware, software, cloud, and other services) for the 2023-2027 period.
• As part of this forecast, IDC breaks out base quantum computing as a service, and enabling and adjacent quantum computing as a service customer spend.

• FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services.
• An investment in a Fund involves risks similar to those of investing in any portfolio of equity securities traded on exchanges.
• The risks of investing in each Fund are spelled out in its prospectus, shareholder report, and other regulatory filings.
• However, unlike mutual funds, shares may only be redeemed directly from a fund by authorized participants in very large creation/redemption units.

• Survey respondents also identified team cohesion as the most important factor when evaluating new investment opportunities over other considerations, including returns, fund size, and fees.
• The latest Stifel/Eaton Partners LP Pulse Survey questioned dozens of leading limited partners (LPs) on their approach to private equity investing.
• Key findings include:
  While 61% plan to hold private equity allocations steady in the near term, 18% are considering increasing allocations while 21% may reduce allocation dollars.
• “These survey findings confirm what we see in the marketplace during this period of economic uncertainty,” added Eric Deyle, Managing Director at Eaton Partners.

• Notably, former chancellor George Osborne claimed that austerity had a “positive” effect on the UK’s ability to withstand the pandemic.
• Our reading of the evidence is that the austerity policies initiated after 2010 weakened the UK, allowing COVID to do more damage than it otherwise might have.
• Austerity measures seek to reduce government deficits, usually through a mix of public spending cuts and increased taxation.
• While there’s continued disagreement about whether these measures really help the economy, the evidence is clear that austerity in the UK has been bad for health.
• Osborne’s 2010 austerity budget cut billions from public and welfare spending.
• One recent analysis estimated that austerity policies pursued between 2010 and 2019 were associated with £540 billion less public spending.

Preparing for the next crisis

• Austerity policies shred the safety nets that those most economically vulnerable would otherwise depend on.
• Then, when people fall ill, these measures weaken the ability of health services to care for them.
• One of the best things we can do to prepare for future pandemics is to avoid a return to austerity.