Hyun Song Shin

Hyun Song-Shin, an Economic Adviser at the Bank for International Settlements, shares insights on the shifting dynamics of the US dollar. He discusses the surprising 'triple decline' in April when stocks, bonds, and the dollar all fell. Hyun explains how institutional investors are using FX swaps to hedge against dollar exposure, revealing trends in hedging costs and the implications for long-term investor behavior. He also analyzes the roles of gold and emerging markets, noting that recent gains come from policy improvements rather than just a weaker dollar.

Hyun Song Shin, an economic advisor and head of research at the Bank for International Settlements, dives into the intricacies of the yen carry trade. He explains how this strategy, involving borrowing low-yield currencies, has influenced recent market turbulence. Shin discusses the key players in this global dynamic and debunks common misconceptions. He also highlights the role of FX swaps in enhancing liquidity and examines how today's financial conditions contrast with stock market performance. Insightful and timely, he unpacks the lessons learned from recent events.

Hyun Song Shin, economic advisor and head of research at the Bank for International Settlements, shares his insights on today's evolving financial landscape. He discusses the shift from bank lending to bond-based borrowing and its inflation implications. Shin also highlights how even traditionally safe assets, like US Treasuries, can suddenly pose risks, as seen in recent crises. He emphasizes the complexity of central banking in curbing inflation while navigating high interest rates and stresses the need for coordinated policies to maintain financial stability.

Hyun Song Shin, Head of Research at the Bank for International Settlements (BIS), and Andréa M Maechler, Deputy General Manager of BIS, delve into the future of money. They discuss the transformative effects of tokenization in banking, highlighting Project Agora's role in enhancing correspondent banking efficiency. The guests explore the impact of stablecoins versus central bank digital currencies, addressing regulatory challenges. Governance complexities are examined as they navigate the integration of new monetary systems and the ongoing evolution of digital finance.

Hyun Song Shin, economic advisor at the BIS, shares insights on systemic risk and global finance. Andreas Schrimpf, head of financial markets, discusses the surge in derivatives trading driven by policy changes. Goetz von Peter highlights the dollar's dominance and the rise of the renminbi in global trades. They analyze market structures under strain yet resilient and caution against interconnected leveraging in hedge funds. The conversation reveals how volatility, hedging activity, and trading patterns shape today's financial landscape.

Hyun Song Shin, Economic Adviser and Head of Research for the Bank for International Settlements, sheds light on the unique dynamics of the current dollar rally. He explains how this cycle differs from past trends, examining its significant impact on global markets. Shin discusses the implications for trade and investment, exploring how the dollar's strength affects commodity prices and inflation. Policymakers are challenged to navigate these complexities, especially in emerging markets, while the dollar's position as the dominant currency remains a focal point.

Hyun Song Shin discusses the benefits and challenges of AI for central banks. Topics include AI advancements in processing unstructured data, implications for the financial sector, tools for economic assessments, and AI's impact on productivity and the labor market.

Hyun Song Shin, Economic Advisor at the Bank for International Settlements, leads a discussion joined by Gaston Gelos and Frank Smets. They delve into the December 2025 BIS Quarterly Review, highlighting market volatility and rising FX turnover. Shin explains how US short-term rates impact hedging strategies and examines gold's unusual rise alongside equities. The trio also discusses the implications of emerging market derivatives growth and private credit defaults, raising concerns about market fragility amidst speculative behaviors. Watch out for insights on AI investment and the dollar's future!

In this enlightening discussion, Hyun Song Shin, economic advisor and head of the Monetary and Economic Department at the Bank for International Settlements, explores why central bankers remain skeptical about stablecoins. He highlights potential risks and their limitations as substitutes for money. The conversation touches on the role of stablecoins in inflationary economies like Turkey, emphasizing their use for international transfers and as protection against inflation. Additionally, Shin addresses the broader implications for monetary policy and the challenges they pose to financial stability.

Hyun Song Shin, Economic Advisor and Head of the Monetary and Economic Department at the BIS, discusses the future of finance through tokenization. He explores how tokenized platforms can integrate central bank reserves and commercial bank money. The conversation highlights the balance between public interest and private innovation. Challenges posed by stablecoins and their impact on monetary function are addressed. Shin also emphasizes how tokenization can revolutionize international banking and enhance monetary policy management.