Equities
Share buybacks limits monetary policy- BdF paper
Use of low-cost debt for buy-backs cuts spending on employment and capital good- researchers
How vulnerable are EMEs to renewed Covid-19 turbulence?
Emerging markets face twin pressures from the health crisis and global financial forces, says Steve Kamin
Have equities passed the Covid-19 test?
Reserve managers face a rebalancing and asset allocation challenge, with Fed interventions distorting yield curves and boosting equity valuations. What’s next for asset diversification?
Dividends should be subject to macro-pru limits – ECB paper
Measure would reduce volatility in loan supply and equity levels, economist argues
Norges Bank supervisory board strongly criticises contract with new SWF head
Board tells lawmakers the contract agreed by central bank governor lacks sufficient safeguards
A better way to buy private sector securities?
Central bank asset purchases can do more harm than good and are often conducted on a flimsy legal basis, writes HKU’s Bryane Michael
Israeli reserves rise 6.7% in May to new record
Portfolio boosted by government transfers from abroad and FX purchases
BoE paper explores global financial cycles since 1880
Cycles in credit and housing have become more pronounced, but only for some economies
The complex art of reserve management
The coronavirus lockdown represents another inflection point for central banks seeking to optimise the management of their $12 trillion in FX reserves
Dutch pension funds record heavy losses – DNB
Major pension funds warn they may have to cut payouts unless finances improve soon
Swiss central bank reports record quarterly losses
SNB loses $39.1 billion as falls in equities wipe out gains on Swiss franc positions and gold holdings
Israeli reserves fall sharply on dollar liquidity provision
Central bank’s portfolio decreases by $5.1 billion in March
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic and financial collapse
Norges Bank appoints new SWF chief
Nicolai Tangen will take the helm at the world’s largest sovereign wealth fund in early September
Covid-19 unleashes major market shock
Oil prices tumble, dragging down stock markets worldwide; sovereign bonds rally
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière
Norway’s SWF achieves record growth
Government pension fund expands by 20%, boosted by strong US equities markets
Too early to speculate on coronavirus impact – Fed vice-chair
Experts urge Americans to brace for “inevitable” spread of the virus in the US
US regulators propose third Volcker rule revision
Banks could soon regain permission to invest in speculative funds, but one official dissents
SNB reduces risk exposure in fixed-income investments in Q4
Foreign currency investments decline by over 10 billion francs in December
Risky markets had a ‘spectacular’ 2019, IMF officials warn
Largest combined number of rate cuts since 2008 drove financial vulnerabilities, senior officials say
‘Market clustering’ can destabilise equity prices – DNB paper
Researchers present new measure to examine impact of trading overlap on equities
Bank of Israel reserves rose 9.3% in 2019
Higher equity prices rewarded central bank’s decision to increase its exposure to stocks
Lagarde awards Schnabel key policy role in renewed ECB board
Panetta leads market infrastructure and payments, banknotes and international relations