Adam Brinley Codd, Daniel Krause, Pierre Ortlieb and Alex Briers We both drive cars, but the US drives on the right while the UK drives on the left. We both walk, but we do so on sidewalks in the US and pavements in the UK. We both have asset managers, who want to take leveraged … Continue reading Leverage finds a way: a comparison of US Treasury basis trading and the LDI event
market-based finance
Naoto Takemoto, Simon Jurkatis and Nicholas Vause In less than two decades, the system of market-based finance (MBF) – which involves mainly non-bank financial institutions (NBFIs) providing credit to the economy through bonds rather than loans – has both mitigated and amplified the economic effects of financial crises. It mitigated effects after the global financial … Continue reading Strengthening the resilience of market-based finance