More liquid than most derivative markets, foreign exchange products still suffered in the turbulence of late 2008. But hedging exchange rate risk has never looked more important, creating growth opportunities for banks that can stay in the game. Writer Philip Alexander.
The US mortgage market was the epicentre of the earthquake that has shaken the global financial sector so badly, but finding ways to restore capital market funding for residential and commercial mortgages is crucial to reviving economic growth. Writer Philip Alexander.
The world faces the worst financial crisis for decades, yet only one emerging market sovereign has so far entered default. But untested new issuers, political risk and the persistent lack of agreed restructuring mechanisms mean sovereign debt is still far from a risk-free investment. Writer Philip Alexander.