Documents & Resources

May 21, 2015

* Calmer markets—for now
* Dispatch from Silicon Valley
* Global growth—still waiting for the rebound
* Introducing IIF Flows Alerts
* Turkey—central bank remains on hold

May 19, 2015

The decision to publish regulations governing direct ownership of shares listed on the stockmarket, Tadawul, by Qualified Foreign Financial Institutions marks an important step to open the Saudi economy to foreign equity investors. A growing allocation to Saudi stocks by global investors could translate to significant inflows within a few years if the country is eventually included in major benchmarks such as the MSCI emerging market index. Allowing ownership of shares by QFIs is intended to reduce market volatility, increase efficiency and transparency, and, ultimately, support economic growth.

May 8, 2015

Liquidity-fueled Chinese, Euro Area and Japanese equities have been this year’s star performers, while high-grade bonds have underwhelmed; higher oil prices and a jump in G4 inflation expectations help explain the recent surge in long-term bond yields, while concerns about secondary bond market liquidity persist.

May 7, 2015

*Behind the bond market selloff
*Oil—too much too soon?
*Global Growth—not yet much better in Q2
*Indonesia—looking for a rebound
*Brazil—no pain no gain
*Saudi Stock Market Opens to Foreigners

May 6, 2015

After touching their lowest level in more than six years in March, fund portfolio weights for emerging market equities and bonds increased modestly in April. While institutional investors started to return emerging market equities, they remain cautious about China’s stock market rally and have continued to be net seller of Chinese equities. After six months of solid uninterrupted growth, fund investors reduced exposure to U.S. bonds in April. The retrenchment has been pronounced in shorter-duration U.S. bonds and also in municipal bonds, but investor demand for TIPS funds picked up, coinciding with the upturn in U.S. inflation expectations.

April 30, 2015

* Dollar weakens further as markets reassess positions
* Monetary policy—certainly not boring!
* IIF Emerging Market Bank Lending Survey
* Thailand: another step down
* U.S.—weak growth but tighter labor markets
* UK elections—get ready for a hung parliament

April 30, 2015

Small and medium-sized enterprises (SMEs) are vital to creating jobs and spurring economic growth, yet many lack access to finance. The IFC estimated a financing gap of $1.6 trillion in 2011 for the formal SME sector, which has likely increased since then. Credit guarantee schemes (CGSs) are an important policy tool to address the SME financing gap. By providing partial coverage of funding, CGSs can enable banks to finance SMEs that lack sufficient collateral or lower the cost of borrowing to higher-risk SMEs. The IIF has surveyed banks regarding the existence and usage of such schemes.

April 29, 2015

The interaction between economic activity, monetary accommodation and financial markets has provided an underpinning for the financial system over the past six and a half years. Since the recovery began in 2009, economic growth has been soft enough to elicit extraordinary monetary policy measures—including zero and negative policy rates and waves of quantitative easing—but not strong enough to trigger a Fed tightening move anytime soon.

April 23, 2015

* Markets take in weak data
* Spotlight on Q1 earnings, valuations
* Our new Global Economic Monitor—Global growth under strain
* China—stepping up the pace of monetary easing
* Greece—endgame is near

April 13, 2015

Welcome to Global Bank Lending Snapshot, a new quarterly IIF publication offering timely information about domestic bank lending to the private sector in more than 160 countries.