IMF

Markets could be asked to absorb a lot more debt as central banks lighten their balance sheets. But as governments continue to issue it, nobody knows whether unwinding can be done in an orderly manner.

It isn’t 2008 all over again, but dismissing the broader risks of SVB’s demise would be a mistake for investors, writes Ruffer CIO Henry Maxey.

The International Monetary Fund (IMF) has called for internationally coordinated mandatory measures including ‘swing pricing’ – equivalent to buy-sell spreads – to limit systemic risks posed by liquidity misalignment in open-ended funds.

It’s all coming up roses for the asset class, which is set to benefit from rising inflation and global spending programs. A boom delayed is still a boom. The delta variant stymied reopening plans and the fiscal stimulus expected to accompany them, but listed infrastructure investors will breathe easier as government spending finally goes ahead….