Resilient risk-taking in financial markets
With the end of the hiking phase in sight, investors focused on macroeconomic developments during the review period, while staying attuned to their policy implications.1 Government bond yields rose in advanced economies (AEs), with term structures reflecting increasingly diverse economic outlooks. Despite a spell of de-risking in August, risk-taking was generally resilient, including in emerging market economies (EMEs).
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Media briefing on the BIS Quarterly Review, September 2023
Claudio Borio and Hyun Song Shin summarise the September 2023 Quarterly Review and answer journalists' questions about financial market developments and the economic outlook.
Media briefing on the BIS Quarterly Review, September 2023
Claudio Borio and Hyun Song Shin summarise the September 2023 Quarterly Review and answer journalists' questions about financial market developments and the economic outlook.
Bank positions in FX swaps: insights from CLS
Data from CLS, the world's largest multi-currency cash settlement system, and the BIS reveal how banks use interbank FX swaps to serve customers, hedge and arbitrage.