Category Archives: Banking industry

Michael Hudson on Parasitic Financial Capitalism

An interview with Michael Hudson on his latest book, Killing the Host, which focuses on the destruction wrought by financial capitalism.


Market Liquidity in Liquid Markets: Pitfalls and Trends

Market liquidity is all about smooth and rapid executions of large transactions. But why is it hard to keep big markets liquid? This column looks at liquidity in fixed-income markets, assesses new trends (as well as the EU’s new market instrument rules), and makes recommendations to policymakers to avoid illiquidity – a timely reminder that the social costs of illiquidity should not be underestimated.


Frances Coppola: The Great Yield Divergence

Puzzling over the Great Divergence of real and nominal yields. Ever since the Great Depression, nominal yields have been persistently above real yields Yet in the previous 200 years, despite periods of fiat currency and high inflation, real and nominal yields didn’t diverge. Why do they now?