March 5, 2019
Balance sheet latest publications
Tweaks to Fed balance sheet strategy and operational framework. Fed to reach terminal balance level in 2019. New principled approach not without risks.
Capital continued to flows toward Global Investment Funds (GIF), albeit at a slower pace, driven by common factors (high global liquidity, subdued US interest rates among others). Over the coming quarters, inflows to GIF shall cool down as the unwinding of central bank balance sheets starts draining liquidity. Our baseline …
Three important external determinants of sovereign spreads in emerging countries are reviewed: balance sheet effects, global risk aversion and contagion.