How did the Subprime Crisis, a problem in a small corner of U.S. financial markets, affect the entire global banking system? To shed light on this question we use principal component analysis to identify common factors in the movement of banks' credit default swap spreads. We find that fortunes...

How did the Subprime Crisis, a problem in a small corner of U.S. financial markets, affect the entire global banking system? To shed light on this question we use principal components analysis to identify common factors in the movement of banks' credit default swap spreads. We find that fortunes...

The dollar fell by 10 per cent between its March 2020 high and the end of the calendar year, and many banks and forecasters expect it to fall further, by as much as 35 per cent in 2021. Dollar skeptics cite the end of safe-haven flows following the approval of COVID vaccines, the Federal...

How did the Subprime Crisis, a problem in a small corner of U.S. financial markets, affect the entire global banking system? To shed light on this question we use principal components analysis to identify common factors in the movement of banks' credit default swap spreads. We find that fortunes...