‘The nature of stress propagation has changed’
Leverage begets leverage, says BIS research chief Hyun Song Shin
Hyun Song Shin, head of research at the Bank for International Settlements, spends much of his time thinking about why market crises happened and how similar events might unfold in future. Recent history has provided him with plenty of fresh material.
The seizing-up of trading in US Treasuries in March 2020 – the so-called dash for cash – presented policy-makers with a model case of how strains can spread in markets where hedge funds and high-frequency traders play a more dominant part. In the UK
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Investing
Markets are mispricing tariff uncertainty, say academics
Johns Hopkins economists warn of risk from changes to the ‘rules of the game’
‘This is not a wobble’: Brunello Rosa on the path to de-dollarisation
Digital currencies will play a central role as China challenges US hegemony, says economist
Mitigating risks with derivative ETFs
S&P Global Market Intelligence's Enrico Piccin discusses the evolution of synthetic ETFs, regulatory impacts, and balancing leverage and transparency
Pimco’s $19 billion Sonia swaptions trade
Counterparty Radar: Bond giant springs up as largest player in space among US mutual fund managers, with Guggenheim shadowing its move
How Florida’s pension plan foresaw deglobalisation and trimmed its risk
Retirement fund reduced exposure to public equities more than a year ago
Asia’s bond investors hesitant to buy US dip, say dealers
Insurers and pension funds have been slower to step in than usual during sell-off
How Trump’s trade talks may play out
SSGA’s chief geopolitical strategist on which tariffs stay in place and who blinks first in negotiations
Market whipsaw spurs calls to rethink buy-side stress-testing
Risk Live Boston: Morgan Stanley and BlackRock urge rethink of scenario assumptions and top-down factor models
