Global Financial Stability Report

Global Financial Stability Report

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This September 2005 issue of the Global Financial Stability Report highlights that financial conditions have remained broadly positive over the past six months, but some market developments diverged from consensus expectations of market participants. Long-term interest rates, instead of rising, as expected by some investors, have moderated, leading to a further flattening of global yield curves. This reflected cyclical factors, as market participants seemed to expect more moderate global growth and inflation, and structural factors such as a secular portfolio shift toward long-term bonds by pension funds and life insurance companies.Emerging market issuance in euros rose through 2004 to a peak in the first quarter of 2005, but moderated in the second quarter, ... Latin Americaa#39;s low share of total net external issuance (about 10 percent in the first half of 2005) is because many of the main issuers ... Cumulative Net Flows to U.S.-Based Mutual Funds (In millions of U.S. dollars) 0 2000 4000 6000 8000 10000 12000 Emerging marketanbsp;...

Title:Global Financial Stability Report
Publisher:International Monetary Fund - 2007


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