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November/December 2015 Capital Markets Monitor Chartbook November 25, 2015 - 4:25pm

Market performance in recent weeks reflects continued adjustment to the prospect of a December Fed liftoff--the U.S. yield curve has flattened significantly, while mature market equities have been relatively resilient. As G-3 monetary policy continues to diverge, the U.S. dollar has seen renewed gains in recent weeks. Amid the ongoing supply glut and concern about Chinese growth prospects, broad commodity prices have fallen to their lowest level since 2002. Against this backdrop, rising geopolitical strains have weighed on EM equities.

IIF Dispatch: Update from Thailand November 25, 2015 - 10:28am

Our recent visit to Bangkok found a subdued economy as the country goes through long drawn out political transition

IIF Dispatch: Update on Turkey November 24, 2015 - 4:49pm

Turkey announced its new cabinet today. Mr. Ali Babacan was not given any role, which was somewhat surprising as he had established strong external credibility as a policy-maker based on his record in all the AKP governments since 2002.

IIF Response Letter - ED Conceptual Framework November 24, 2015 - 11:16am

The Institute of International Finance (IIF), via its Senior Accounting Group (SAG), comments on the Exposure Draft - ED/2015/3 - Conceptual Framework for Financial Reporting.

Daily Flows Database November 24, 2015 - 12:11pm
Poland: PiS Fiscal Plans Raise Concerns November 23, 2015 - 2:51pm

The Law and Justice party (PiS) gained an absolute majority after the October parliamentary elections. The part has an ambitious policy platform, calling for new spending programs and higher taxes on financial institutions and large retailers.

IIF Dispatch: Update on Argentina November 23, 2015 - 4:33pm

An era has ended. The leader of a center-right coalition, Mauricio Macri has won the race to be Argentina’s new president, emerging victorious in the second round run-off elections with 51.4% of the votes, ahead of the ruling Peronist party’s contender, Daniel Scioli (48.6%). Macri takes office on December 10. His victory marks the end of twelve years of Kirchner administrations and confirms the population’s desire for political and economic change after many years of increasing isolation and deteriorating economic conditions.

Weekly Insight: To December—and Beyond November 20, 2015 - 9:53am
  • Markets comforted by a gradualist Fed
  • Global growth and trade—looking for a silver lining
  • Japan—some bright spots in technical recession
  • Repositioning ahead of the Fed—EM fund outflows resume in November
The IIF SAG comments on EFRAG’s draft letter to the European Commission November 19, 2015 - 2:45pm

The IIF SAG comments on EFRAG’s draft letter to the European Commission on IFRS 9 endorsement.

2015 IIF Latin America Chief Risk Officer Forum November 19, 2015 - 1:42pm

The IIF LATAM Chief Risk Officer Forum was held on November 12 and 13 in Miami, hosted by Mercantil Commercebank. The forum brought together risk officers from the LATAM region to exchange ideas and valuable insights on key current topics in risk governance and asset management, as well as important developments in the global regulatory reform agenda, and their implications for the Latin American region. The presentations can be found to the right of this posting, and are accessible by members.

IIF SAG comments on IFRS 9 endorsement for banking activities November 18, 2015 - 4:47pm

The IIF SAG comments on IFRS 9 endorsement for banking activities.

China Spotlight: End of One Child Policy - Will it Help the Economy? November 18, 2015 - 11:19am

China’s leadership is trying to boost long-term economic growth while avoiding short-term turbulence. One key long-term hurdle for the economy is the ongoing demographic transition. China’s population is now aging inexorably, slowing growth of the labor force and raising the dependency ratio. Recent announcements regarding the move from a one-child policy to a two-child one are heading in the right direction, but will not be sufficient by themselves.

November 2015 Portfolio Allocation Trends November 19, 2015 - 12:54pm

Repositioning ahead of the Fed: With many fund investors maintaining underweight positions in EM securities for more than three months, growing expectations of a December Fed liftoff contributed to withdrawals of over $5.5 billion (0.5% of AUM) from EM funds between October 29 and November 11.

IIF Dispatch: Update from South Africa November 17, 2015 - 11:39am

During our recent visit to South Africa, we got the feeling of an economy treading water and losing momentum. The economy, which has been hit hard by electricity shortages and a sharp sell-off in metals and minerals, is now being buffeted by one of the severest droughts in decades.

2016 IIF G20 Conference: The G20 Agenda Under the Chinese Presidency November 25, 2015 - 1:55pm

The IIF will hold its 8th Annual IIF G20 conference—“The G20 Agenda under the Chinese Presidency”— on February 25-26, 2016 in Shanghai. The event will offer a unique forum for official and private-sector leaders in the international financial community to discuss and share perspectives on a range of key G20 agenda topics. The program will feature a number of senior-level speakers, expected to include G20 Finance Ministers and Central Bank Governors.

Banking on the Blockchain: Re-engineering the Financial Architecture November 20, 2015 - 9:48am

Blockchain technology, once viewed as a profound threat to financial intermediaries, is now being embraced by traditional financial services firms as a way to reengineer financial industry infrastructure to their advantage. The industry, working both independently and in partnership with newer players, envisions the technology as a mechanism for lowering costs, reducing risk, introducing new products and freeing up capital. This paper explores the immense potential of blockchain technology, as well as some of the challenges it poses to the industry and regulators.

Weekly Insight: Waiting Game November 12, 2015 - 7:20pm

* Markets price in still more divergence in monetary policy
* U.S.—countdown to Fed liftoff has begun
* China—mixed signals
* Russia—bottoming out?
* EM debt — fast approaching 200% of GDP

November 2015 Global Economic Chartbook November 13, 2015 - 9:30am

The November edition of the IIF Global Economic Chartbook summarizes our current views on the global economy, drawing on our latest Global Economic Monitor and including a section on vulnerabilities across emerging markets. It also updates our latest assessment of capital flows to emerging economies, bank lending conditions in EMs, and contains revised sections on the G3 economies.

IIF Dispatch: Update from Moscow November 12, 2015 - 11:36am

In Moscow meetings this week there was general consensus that Russia's economic decline has bottomed out, or is close to bottoming out.

MENA: Adjusting to New Realities November 16, 2015 - 11:05am

MENA oil exporting countries are facing difficult challenges adjusting to the sustained decline in international oil prices. A tighter fiscal stance will lead to weaker growth.