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BIS Quarterly Review

Rarely would I recommend reading a Bank for International Settlements – BIS report in its entirety but this one might be worth a try.

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You can even choose to listen to it with the accompanying #BISness Podcast.

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This quarters report also includes an analysis from the triennial survey of the FX and OTC markets.

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The opening overview of global advanced and developing markets was peppered with many words associated with what many of us have experienced this year.

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Mention of the words “Deteriorated, widened, worsened, disruption, weakness, uncertain and volatile” appeared 37 times. Trying to find words that are associated with better conditions was in itself a challenge with the ones I could find, “improved” and “strength” appearing just 6 times.

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This perhaps augers badly for 2023

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In our view it is well worth taking in the BIS global overview and perhaps a read of the following articles over your next cup or two of tea:

- The post-Libor world: a global view from the BIS derivatives statistics

- Dollar debt in FX swaps and forwards: huge, missing and growing

- Leverage and liquidity backstops: cues from pension funds and gilt market disruptions

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‍https://lnkd.in/eWJ4tyU9

December 29, 2022

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