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The BIS ''Hidden USD Debt'' Story Explained
Market Depth
Monitoring Global Trade Growth and Derivatives Market Signals
In September 2008, the FX swap market completely froze. Any FX swap where people tried to get dollar funding suddenly became all very expensive and foreign investors were left to scramble for US dollars. The BIS paper calls this hidden net. In reality, it's not hidden from anything. We know that this large market existed, has ever existed, has grown over time for good reasons. Nevertheless, there are potential negative consequences.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode