297 posts on "Financial Markets"
December 2, 2013
Who’s Lending in the Fed Funds Market?
The federal funds market is important to the framework and implementation of U.S. monetary policy.
Posted at 7:00 am in Fed Funds, Financial Institutions, Financial Markets, Monetary Policy | Permalink | Comments (2)
November 25, 2013
A Way With Words: The Economics of the Fed’s Press Conference
When central bankers speak, traders, journalists, and politicians listen with bated breath.
November 20, 2013
Intermediary Leverage Cycles and Financial Stability
The financial crisis of 2007-09 highlighted the central role that financial intermediaries play in the propagation and amplification of shocks.
Posted at 7:00 am in Financial Institutions, Financial Intermediation, Financial Markets, Systemic Risk | Permalink
October 16, 2013
Dealer Balance Sheet Capacity and Market Liquidity during the 2013 Selloff in Fixed‑Income Markets
Tobias Adrian, Michael J. Fleming, Jonathan E. Goldberg, Morgan Lewis, Fabio M. Natalucci, and Jason J. Wu Long-term interest rates hit record-low levels in 2012 but have since increased substantially. As discussed in an earlier post, the sharpest increase occurred between May 2 and July 5 of this year, with the ten-year Treasury yield rising from 1.63 percent […]
Posted at 7:02 am in Financial Institutions, Financial Markets, Liquidity | Permalink | Comments (3)
October 7, 2013
What’s News?
Linda S. Goldberg Economic news moves markets. Most analyses find that economic news is incorporated quickly (within minutes) into asset prices, with some measurable persistence of these effects, and with some spillovers across national borders. Some types of announcements—for example, U.S. nonfarm payrolls announcements—generate much larger asset price responses than others. Generally, news that is […]
September 6, 2013
Crisis Chronicles: Tulip Mania, 1633‑37
James Narron and David Skeie As Mike Dash notes in his well-researched and gripping Tulipomania, tulips are native to central Asia and arrived in the 1570s in what’s now Holland, primarily through the efforts of botanist Charles de L’Escluse, who classified and spread tulip bulbs among horticulturalists in the late 1500s and early 1600s. By […]
August 26, 2013
Information on Dealer Activity in Specific Treasury Issues Now Available
The New York Fed has long collected market information from its primary dealer trading counterparts and released these data in aggregated form to the public.
August 21, 2013
Creating a History of U.S. Inflation Expectations
Central bankers closely monitor inflation expectations because they’re an important determinant of actual inflation.
August 19, 2013
Are Higher Haircuts Better? A Paradox
Brian Begalle, Adam Copeland, Antoine Martin, Jamie McAndrews, and Susan McLaughlin Repurchase agreement (repo) markets played an important role in the 2007-09 financial crisis in the United States, and much discussion since then has focused on the role of repo haircuts. A repo is essentially a loan collateralized by securities. Typically, the value of the […]
August 5, 2013
The Recent Bond Market Selloff in Historical Perspective
Long-term Treasury yields have risen sharply in recent months.
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