Knoema.com - Finance http://knoema.es 2023-01-09T06:22:11Z /favicon.png Knoema es su Autopista personal hacia el conocimiento The Pressure of Low and Negative Interest Rates //knoema.es/qpxzhwg/the-pressure-of-low-and-negative-interest-rates 2023-01-09T06:22:11Z Alex Kulikov knoema.es://knoema.es/user/1847910
The Pressure of Low and Negative Interest Rates

Central banks around the world are increasingly resorting to more dovish monetary policies against a backdrop of slowing economic growth. Among the 38 central banks tracked by the Bank for International Settlements (BIS), 21 banks adopted interest rate cuts over the three-month period from July to September, compared to 13 during the same three-month period of 2018.Several advanced economies, including Denmark, Japan, Switzerland, Sweden, and the European Central Bank (ECB)-regulated Euro Area, have sustained negative interest rate environments for several years already and the multi-year outlook looks similar, according to the IMF's latest Global Financial Stability Report.In September, the ECB proceeded to cut the interest rate on its deposit facility for the first time since 2016, dropping it by 10 basis points to -0.5 percent. The ECB also announced that it would re-launch its asset-buying program beginning 1 November in pursuit of its two percent inflation rate target. Aimed at supporting economic growth and inflation through prompting firms and households to spend more money now (instead of saving), these rates represent a source of risk within the banking sector and to global financial stability as a whole. Negative interest rates force banks to pay money to central banks for keeping their excess funds overnight. Even outside the negative territory, persistently low rates narrow banks' operating margins and can lead to the accumulation of excessive corporate debt.

Alex Kulikov knoema.es://knoema.es/user/1847910
US Treasury Yields //knoema.es/ywsaegf/us-treasury-yields 2023-01-08T16:39:22Z Alex Kulikov knoema.es://knoema.es/user/1847910
US Treasury Yields

Alex Kulikov knoema.es://knoema.es/user/1847910
Government Bond yields in India and US //knoema.es/opkazvg/government-bond-yields-in-india-and-us 2022-10-13T17:04:15Z Nematullah Khan knoema.es://knoema.es/user/1975840
Government Bond yields in India and US

The US is a global superpower, the world's largest economy (US$ 20.4 trillions, source:IMF) and it has the most liquid capital markets whereas India is fast developing country and stands at 7th position  (US$ 2.85 trillions, Source:IMF) in terms of GDP. Government securities or bonds are debt instrument issued by government and traded in financial markets and like equities may not directly affect one's personal finances, but the yield ((coupon/value)*100)) tells the direction of economy is heading. The govt. bond described as risk free asset for the financial market because governments are unlikely to default and central banks have compliant. Even as governments run up historic peacetime deficits, central bank can buy up huge amount of the debt. In developing countries like India where government is among the biggest investors in economy, the bond market is a strong indicator of investor confidence in the government and bond yield is useful parameters in accessing economic health. As investors sell government bonds, prices drop, and yields increase which is sign of risk. If the yield offered by a bond is much higher than what it was when issued, there is a chance that government is under financially stress and may not be able to repay the capital. The bonds are relatively more stable but low demand at auctions indicate low investor confidence in the country's economy. Bond yield in developing economies and developed economies cannot equate only on the basis of economic growth plus inflation but need to consider recession, bank rate set by central bank, exchange rate volatility, political risk and other factors which impact on the yield. The old rule of thumb is that govt. pays more when investor perceive a risk of default or fall sharp in currency, this is also one reason why the yield is higher in developing country than developed country. Other difference lies in the fact that U.S. Treasuries pay in dollars and Indian government bonds pay in Indian Rupees (INR). Exchange rate is one of crucial factor in return on bonds but changes in exchange rate are essentially unpredictable over any short period, but there is reason to believe the changes reflect bilateral differences in inflation rates over long periods, such as 10 years.

Nematullah Khan knoema.es://knoema.es/user/1975840
India Battles to Clean Up Bad Loans That Threaten Its Financial Stability //knoema.es/kekyhog/india-battles-to-clean-up-bad-loans-that-threaten-its-financial-stability 2022-02-28T04:45:53Z Alex Kulikov knoema.es://knoema.es/user/1847910
India Battles to Clean Up Bad Loans That Threaten Its Financial Stability

India is not only the third largest economy in the world, but of the top 10 largest economies globally, it has the third highest share of bad loans, too. India's non-performing loans represent 10 percent of total bank loans and about $210 billion of outstanding debt. Since 2008 when attention shifted globally to financial stability and the role of the banking sector, the share of non-performing loans in India has grown by 7.5 percent and is expected to worsen in the coming years, according to the Central Bank of India.To preempt a major national banking crisis, New Delhi is striving to clean up stressed debt with the help of resolution professionals and independent asset management companies.Some investors will view the anticipated sale of a large volume of India's distressed assets as a niche investment opportunity in this large economy, an opportunity worth upwards of $10 billion to the Indian economy during the next year, according to local financial press.

Alex Kulikov knoema.es://knoema.es/user/1847910
Most Central Banks are Ignoring Rising Inflation Pressure //knoema.es/gmdpxic/most-central-banks-are-ignoring-rising-inflation-pressure 2021-10-21T09:51:32Z Misha Gusev knoema.es://knoema.es/user/1000560
Most Central Banks are Ignoring Rising Inflation Pressure

(21 June 2021) Fast post-COVID recovery of consumer demand amid supply chain disruptions has resulted in rising inflation in most countries around the world. In many economies, consumer price inflation (CPI) has already exceeded monetary policy targets, but so far central banks are mostly ignoring the rising inflation on the grounds that the acceleration is caused by temporary factors. The reluctance of monetary authorities to combat rising inflation pressure raises a question of whether the world economy may end up with uncontrollably high inflation by the end of the year.By the middle of June 2021, 36 countries (out of 38 countries whose monetary policy rates are tracked by Bank for International Settlements) have seen accelerated consumer price inflation compared to the end of 2020. And in 15 economies (including the United States), consumer price inflation has already increased above the monetary policy inflation targets.Only three central banks (Turkey, Russia and Brazil) increased their policy rates between the end of 2020 and mid-June 2021 in an effort to cool down inflation. The Bank of Denmark also increased its policy rate by 0.1 percentage points, to -0.5%, but since this rate remains in the negative zone, the increase can hardly be considered a tightening of monetary policy. Note: Monetary policy rate is the rate that is used by central bank to implement or signal its monetary policy stance. It is most commonly set by the central banks policymaking committees (IMF). Monetary policy targets of CPI inflation shown below include upper limit of deviation from target where applicable.

Misha Gusev knoema.es://knoema.es/user/1000560
Orbisa Securities Lending Data: Top Short Interest Stocks //knoema.es/syodhx/orbisa-securities-lending-data-top-short-interest-stocks 2021-07-02T13:52:20Z Nikolai Kuznetsov knoema.es://knoema.es/user/6481950
Orbisa Securities Lending Data: Top Short Interest Stocks

(28 June 2021)Orbisa estimates that as of April 2021, the global securities lending market is at $26.4 trillion in lendable assets and $2.3 trillion in securities currently on loan. Securities lending allows investors to short-sell and provides investment funds with additional income in the form of fees they charge for lending securities.The Americas equity market accounts for the largest part (46%) of the lendable assets, while government debt represents the largest share (49%) of assets currently on loan.Information technology and consumer discretionary are the top sectors by the value of securities on loan.The energy sector has the highest utilization rate — the value of the security on loan as a share of the total inventory of the security. The visualizations below allow you to explore Orbisa's securities lending data from a variety of angles. The dashboard also contains a close look at securities lending among Japanese Automotive Producers as an example of Orbisa's detailed data.    The data on securities lending market activity available from Orbisa covers more than 183,000 unique securities, and data from more than 100 contributing institutions helps managers be better informed of supply and demand dynamics for the securities that comprise their portfolios.

Nikolai Kuznetsov knoema.es://knoema.es/user/6481950
Bitcoin Energy Requirements Climbing //knoema.es/suxqfz/bitcoin-energy-requirements-climbing 2021-05-13T08:11:43Z Alex Kulikov knoema.es://knoema.es/user/1847910
Bitcoin Energy Requirements Climbing

(29 April 2021) The volume of electricity consumed by bitcoin mining continues to grow globally, approaching the levels of energy consumption of some of the world's larger economies and bringing the environmental sustainability of the cryptocurrency into question. Tesla, which bought $1.5 billion worth of bitcoin in January, causing the price to surge to more than $55,000, became a target of bitcoin critics who say the step undermines the car company's environmental image.According to Digiconomist, a platform dedicated to exposing unintended consequences of digital trends, one bitcoin transaction required 427 kWh of electricity in 2019, which could power an average home for more than two months or run 200 average cycles of a washing machine. By 2021, consumption had increased 2.5 times, reaching 1066 kWh per transaction. Digiconomist estimates that the whole bitcoin network currently consumes around 102 terawatt-hours (TWh) per year — roughly the equivalent of the annual electricity generation of Kazakhstan in 2019 (the latest year for which data is available).Cambridge University's Centre for Alternative Finance gives an even higher estimate, calculating that the bitcoin network is currently consuming energy at levels that could equate to up to 144 TWh of electricity annually. This level of consumption exceeds the 2019 power needs of countries like the Netherlands (111 TWh), Norway (124 TWh), and Sweden (132 TWh). By this estimate, if bitcoin were a country, it would be on the list of the world's 30 most energy-consuming nations.Cambridge also finds most bitcoin mining takes place in China, where 67% of energy generation is based on fossil fuels — primarily coal.The large power requirement for digital currency mining is deliberate, designed to increase the cost of fraudulent transactions and deter misuse of the currency. But what is mining, why is it done, and why are the power requirements escalating?Unlike fiat currencies issued by governments, bitcoin “currency” is issued based on “miners” using specialized computers and software to solve mathematical problems and earn bitcoins in exchange. In addition, its supply — like mined minerals, such as gold — is finite: 21 million is the maximum bitcoins that will ever exist, according to the anonymous bitcoin founder known as Satoshi Nakamoto.Bitcoins are mined by generating “blocks,” or transactions, and verifying the transactions using energy-intensive algorithms. Miners need to find the correct hash every time they want to add a new block into the blockchain. The miner who finds the solution first earns the new bitcoin. The probability of solving a problem is designed to be the same for each participant and is directly proportional to the power of the miner's computer. The resulting competition among miners leads to continually increasing productivity requirements for their computing systems, driving up per-transaction power requirements. 

Alex Kulikov knoema.es://knoema.es/user/1847910
Bitcoin Price from 2009 to 2021 //knoema.es/nmyfsf/bitcoin-price-from-2009-to-2021 2021-03-29T05:53:14Z Alex Kulikov knoema.es://knoema.es/user/1847910
Bitcoin Price from 2009 to 2021

See the Latest Data Insights on Bitcoin:Cryptocurrency: "The Digital Tulip"?Bitcoin Takes Gold Market as Prices Set New Historical Records   Bitcoin is one of the world's most popular digital currencies, meaning that it is exclusively created and held electronically. But, what do we actually know about digital currencies and the potential of these currencies to replace conventional money? Like conventional money, the major function of a digital currency is to serve as a means of payment, whether that is in exchange for goods or real currency, such as dollars and euros. In addition, similar to how a normal currency's exchange rate is set, the price for bitcoins - per the CoinDesk Bitcoin Price Index (XBP) - is based on market dynamics and expressed as the midpoint of the bid/ask spread. Bitcoin’s current value against the US dollar is $8,165. The highest price for bitcoin since it was launched in 2009 was $19,497 in December 2017. After that spike, the price trended down to $6,603 in April 2018. Bitcoin's price is gradually rebounding, buoyed by increased demand for the digital currency in China caused by the weakening yuan: digital currency, like gold, is a refuge for investors in periods of uncertainty. While the flow of a traditional currency is tracked by banks and controlled by governments, the circulation of digital currencies is decentralized, a key factor that drives expectations for the spread of bitcoin to new markets and transaction types. Even though traditional currencies now exist primarily on digital ledgers of banks like bitcoins, the ledger for bitcoins has no separate owner or regulator. Instead, bitcoin is maintained and updated by bitcoin users on the basis of the bitcoin protocol. Since the bitcoin network is not controlled by a single institution, it has several advantages over government-controlled currencies. These advantages include:Limited circulation. The amount of bitcoins in circulation is limited by bitcoin protocol to 21 million bitcoins. In contrast, central banks have the authority to issue additional currency, which, if not accompanied by GDP growth, may lead to a surge in inflation and related economic problems. As of May 27, 2016, there are 15.6 million bitcoins in circulation with a total value of $7.4 billion.Low-cost, open access. Due to the absence of traditional currency regulations, a bitcoin address - analogous to a traditional private bank account - can be set up in seconds, is free of charge, and cannot be disabled by a third party.Quick, simple account management. Many banks and financial companies have announced new investments in virtual currency technology based on expectations that bitcoin transaction management and digital records will reduce administrative burdens and allow for more rapid transaction processing than existing systems. The simplicity of bitcoin has also proven attractive to the Swiss city of Zag, which plans to initiate a 6-month pilot program in July under which local citizens may pay for public services in bitcoin.  The anonymous nature of bitcoin, a byproduct of its decentralization, makes it a perfect tool for illegal activity. Examples include:Illegal drug trade. One of the most well-known examples of the use of bitcoins in the illegal drug trade stems from bitcoin-based transactions on the online drug bazaar Silk Road, which was launched in February 2011 and shut down by the US Federal Government in October 2013. Terrorism. Cyber terrorists may similarly use bitcoins as the currency of choice to receive ransom payments. According to a Cyber Threat Alliance report, ransom payments made via the bitcoin network to hackers through the CryptoWall virus are estimated at $325 million total.  The taint of bitcoin and other virtual currencies by criminals' use of the currencies in illicit transactions coupled with the anonymity inherent to virtual currency fuels skepticism that virtual currency will achieve the level of acceptance of traditional currency much less replace it. Without meeting the essential prerequisite of trust in a currency, the widespread expansion remains doubtful.   

Alex Kulikov knoema.es://knoema.es/user/1847910
COVID-19 Boosts Stock Market and Gold Prices to Historical Highs //knoema.es/eexboqf/covid-19-boosts-stock-market-and-gold-prices-to-historical-highs 2021-02-25T10:27:15Z Nikolai Kuznetsov knoema.es://knoema.es/user/6481950
COVID-19 Boosts Stock Market and Gold Prices to Historical Highs

(20 February 2021) Despite slack in recent economic indicators, stock market indices are showing growth and breaking records. For example, the index of companies with the largest capitalization, S&P 500, and the smallest, Russell 2000, have both achieved before-corona-crisis values for about half a year in 2020. Following the Global Financial Crisis in 2008, these two indices required a few years to achieve similar results. This growth may be attributed to the infusion of money in the economy, and positivity around the COVID-19 vaccination rollout. Governments all over the world accepted measures to stimulate the economy during the pandemic, and the US is going to continue with additional relief measures. This situation can lead to an overestimated stock market, as measured by The Buffett Indicator, which shows a strong gap in the ratio of stock market capitalization to GDP in 2020. Let’s look at gold prices in this context. Gold is considered to be an excellent defensive asset during recessions. After 2008, the price of gold continued to rise as the stock market approached its previous level. But in 2020, the gold price set a historical high simultaneously with the stock market: during the crisis, gold prices increased by 23% while the maximum yield was 30% during the year. This can be explained by increased demand for gold as a defensive asset due to market overheating and the increased uncertainty reflected in volatility. Also, demand for gold is supported by economic stimulation measures as it pumps up the money supply,  a potential factor of inflation growth. Since the US officially has no plans of raising the key interest rate in 2021, gold is may be used to avoid inflation risks.

Nikolai Kuznetsov knoema.es://knoema.es/user/6481950
Bitcoin Takes Gold Market as Prices Set New Historical Records //knoema.es/xkgnrfg/bitcoin-takes-gold-market-as-prices-set-new-historical-records 2021-02-25T10:22:23Z Alex Kulikov knoema.es://knoema.es/user/1847910
Bitcoin Takes Gold Market as Prices Set New Historical Records

(20 February 2021) The price of Bitcoin surged to more than $55,000 this week for the first time in history as large firms such as Tesla, PayPal, Mastercard, and BNY Mellon as well as major investment banks including JPMorgan, Goldman Sachs, and Morgan Stanley showed support for cryptocurrencies. With increased demand from institutional investors and corporates instead of retail investors, Bitcoin's perception may be shifting to that of a more stable asset than it was a couple of years ago. On the other hand, some investors still consider bitcoin a speculative asset and think it may be one of the biggest market bubbles in history. Moreover, there is a perception that Bitcoin is an uncorrelated safe haven asset similar to gold. It may seem that the bitcoin-gold competition has started as the largest gold ETF, SPDR Gold Trust, lost 20% in market capitalization since August 6, 2020, as gold prices decline while the Bitcoin market capitalization increased by 288% during the same period, increasing to $1 trillion. However, bitcoin's extreme volatility is far from the volatility experienced by a safe-haven asset. Bitcoin's 10-year volatility is 10 times higher than that of gold which has historically provided low volatility relative to many other real and financial assets.

Alex Kulikov knoema.es://knoema.es/user/1847910
Russian's Seeking Security in Cash //knoema.es/jhfmgse/russian-s-seeking-security-in-cash 2020-11-26T05:57:45Z Alex Kulikov knoema.es://knoema.es/user/1847910
Russian's Seeking Security in Cash

As the coronacrisis reached Russia this spring, ordinary citizens and business turned to cash to guard against the uncertainties of 2020. By early October, an estimated 12.1 trillion rubles were in circulation. While cash holdings have been on the rise for the better part of the last decade in Russia, the growth rate of cash holdings outside the banking system (a.k.a. M0) quadrupled between March (7.1%) and October (28.3%).The growth in cash holdings during the April-June period was largely COVID-related. Since mid-summer, however, Russian's were likely equally driven to withdraw cash from bank accounts by the weakening of the ruble against the US dollar and growing distrust of the banking system.Russian's were not the only ones turning to cash this year. In Brazil (the world's 8th largest economy), currency in circulation increased by almost 50 percent in August 2020 compared with the same period of the previous year.   Definitions: M0 - cash money in circulation outside the banking system. M1 - M0 + Transferable Deposits M2 - M1 + Other Deposits

Alex Kulikov knoema.es://knoema.es/user/1847910
Japan Government Bond Yields //knoema.es/bbnbc/japan-government-bond-yields 2020-05-05T07:30:42Z Nematullah Khan knoema.es://knoema.es/user/1975840
Japan Government Bond Yields

Nematullah Khan knoema.es://knoema.es/user/1975840
Global Symposium on Development Financial Institutions //knoema.es/nvtazkg/global-symposium-on-development-financial-institutions 2020-03-27T17:53:38Z Alex Kulikov knoema.es://knoema.es/user/1847910
Global Symposium on Development Financial Institutions

Global Symposium on Development Financial Institutions is being held between September 19 and 20, 2017 in Kuala Lumpur, Malaysia. The event is co-organized by the World Bank and Bank Negara Malaysia. The theme “Balancing Sustainability and Social Mandate: Development Financial Institutions in a New World” of the Global Symposium conveys an avenue for various stakeholders of DFIs, which include government officials, regulators, DFIs, academia and researchers; to share, learn as well as exchanging of ideas on the global trends, current and future outlook, best practices & regulations, innovations and contemporary issues surrounding the development finance ecosystem. The Objectives of the Global Symposium are to:Assess the role and recent evolution of DFIs, including global trends, new paradigms in development finance, and new role for DFIs in fulfilling the sustainable development goals (SDGs).Showcase successful cases of DFIs in SME finance, agriculture finance, export-import finance, infrastructure finance.Distill sound practices on  corporate governance, regulation & supervision, risk management, and monitoring and evaluation of DFIsIdentify social and environmental standards for DFIs; andDiscuss the challenges faced by DFIs looking forward. Event Holder: World Bank Source of data: The Global Multidimensional Poverty Index (MPI), 2017, Poverty and Equity Database, 2015, Global Financial Development, November 2015

Alex Kulikov knoema.es://knoema.es/user/1847910
United States: Yield Curve and Periods of Economic Recession //knoema.es/kvseyvd/united-states-yield-curve-and-periods-of-economic-recession 2020-03-19T23:13:24Z Ellen Goodwin knoema.es://knoema.es/user/1593850
United States: Yield Curve and Periods of Economic Recession

The yield spread, i.e. the difference between long term and short term interest rates, has been a good indicator historically of possible future recession. A flattening and then inversion of the spread has correctly predicted the seven US recessions since the 1960s. The question you may have is "why".   Central Banks use monetary policy to influence economic activity. When central banks face tradeoffs between rising inflation and slowing economic growth and chose the latter, the banks push up the short term interest rates. As a result, spending declines in the interest-rate sensitive components of the economy, such as business capital spending, residential development, and consumer durables (especially automobiles). This in turn slows economic activity.    The challenge is how far to adjust interest rates to get the desired effect on economic activity and keep inflation within the target range. A miscalculation risks recession on the one hand and markets factoring a future correction (in the form of short term rate reduction) and lower inflation in the long term interest rate outlook. These two factors together push the long term interest rate lower than the short term interest rate. And, that is how the yield curve spread gains its predictive potential.   Evolving economic dynamics around the globe could potentially weaken the predictive power of the spread. Central banks have been buying long term bonds since the 2008-09 financial crisis to artificially depress the long term interest rate. This is a new trend for banks. These actions have also contributed to lower long term bond yields. When we look, however, to the spread between the 10 year and 2 year US Treasury yields, no inversion has materialized yet,  suggesting that if despite these new trends we still consider the spread as a good predictive indicator, recession may still be sometime off.

Ellen Goodwin knoema.es://knoema.es/user/1593850
Stock Markets //knoema.es/iakcmld/stock-markets 2020-03-19T16:35:39Z Alex Kulikov knoema.es://knoema.es/user/1847910
Stock Markets

Alex Kulikov knoema.es://knoema.es/user/1847910
Leveraged Loans: A Threat to US Economic Health? //knoema.es/sseltkd/leveraged-loans-a-threat-to-us-economic-health 2020-02-05T02:26:23Z Alex Kulikov knoema.es://knoema.es/user/1847910
Leveraged Loans: A Threat to US Economic Health?

The leveraged loans* market in the US ballooned in 2018. According to the US Federal Reserve’s latest Financial Stability Report (May 2019), leveraged loans outstanding reached $1.15 trillion in the 4th quarter of 2018, a growth of 20.1 percent during 2018 alone. At the same time, deteriorating lending standards and investors’ growing risk appetite have increased funds available to indebted companies and created fresh vulnerability within the financial system.   Why should this market be of such concern if it is a shadow of the size of other markets, such as residential and equities? An economic slowdown could easily trigger defaults on leveraged debt and subsequent employment and investment contractions by borrowers that would exacerbate the downside risk to broader economic activity. Leveraged loans financially constrain employment and investment decisions of these already indebted borrowers, linking these core business decisions to debt availability, availability of which is in turn vulnerable to corporate debt spread and lending standards.   With leveraged debt growing so aggressively, the Fed may hold off on further interest rate hikes if it assesses the bottom could come out from the otherwise well-performing leveraged loans market. At present, the Fed's position is optimistic on the basis that it believes today's leveraged loan bundles are better structured than pre-crisis residential mortgage bundles. While default rates may be relatively low - usually considered one sign of a strong economy - officials are already cautioning that this could change in the case of a slowdown.The US’ tense global trade relations with a number of major markets and the inverted yield curve will give the Reserve still more pause. At the end of May, the short term bond yield exceeded the long-term bond yield for the first time since 2007, suggesting market pessimism with regard to near-term economic conditions.  *A leveraged loan issued by a commercial or investment bank is extended to a company with considerable preexisting debt and/or poor credit history. Because of the higher risk of default by a leveraged borrower, this type of debt tends to carry higher interest rates than general loans. 

Alex Kulikov knoema.es://knoema.es/user/1847910
Digital Technologies Eliminated Alpha //knoema.es/taerlmf/digital-technologies-eliminated-alpha 2019-12-04T22:27:53Z Misha Gusev knoema.es://knoema.es/user/1000560
Digital Technologies Eliminated Alpha

Paradoxically, the more we know the less we earn. In the era of data ubiquity and relatively unlimited computational power, hedge funds that manufacture data into money underperform the market, demonstrating negative alpha.* Did anyone expect the digital economy to have that effect on profits? Recent research confirms that none of the major hedge fund strategies were able to outperform the S&P 500 index after the global financial crisis.According to Hedge Fund Research, from 1990 to 2000 hedge funds generated massive returns, annualizing at 18.3 percent and beating the S&P 500’s 16.5 percent average gain by almost 200 basis points.Enter the Great Recession. Since financial markets began to recover, hedge funds have perennially underperformed the S&P 500 index. Between January 2009 and yearend 2018, hedge funds returned an average annualized 6.09 percent. That’s less than half that of the S&P 500, which rose 15.82 percent annually during the same period.    In contrast to the erosion of alpha experienced by hedge funds, computing power and the volume of data generated globally (and is in theory available to feed models) increased 60 and 40 times, respectively. Rising data ubiquity has weakened the plausibility of a sustained information edge, which has been critical in achieving long-lasting outperformance. In addition, computer based algorithmic trading lowered the discount for traditional hedge fund strategies. This is in part why now we hear so much about "alternative data" as the financial industry seeks to retain that data edge. We will leave you with this question: If mass adoption of digital technologies lowered returns in high risk investing, what are the prospects for the rest of the economy?   *Alpha is the excess return of an investment relative to the return of a benchmark index.

Misha Gusev knoema.es://knoema.es/user/1000560
Bitcoin Currency Statistics, 2009-2019 //knoema.es/rilqhnd/bitcoin-currency-statistics-2009-2019 2019-11-11T12:20:32Z Alex Kulikov knoema.es://knoema.es/user/1847910
Bitcoin Currency Statistics, 2009-2019

Bitcoins in circulation - total number of bitcoins that have already been mined; in other words, the current supply of bitcoins on the network. Market Capitalization - total USD value of bitcoin supply in circulation, as calculated by the daily average market price across major exchanges. USD Exchange Trade Volume - total USD value of trading volume on major bitcoin exchanges. See also: Bitcoin Price Index, 2009 to 2018

Alex Kulikov knoema.es://knoema.es/user/1847910
Country Risk Premium (CRP) //knoema.es/zcwlelg/country-risk-premium-crp 2019-08-02T17:52:14Z Nematullah Khan knoema.es://knoema.es/user/1975840
Country Risk Premium (CRP)

Nematullah Khan knoema.es://knoema.es/user/1975840
Czech Republic Central Bank Balance Sheet //knoema.es/glyuuug/czech-republic-central-bank-balance-sheet 2019-07-31T06:15:14Z Nematullah Khan knoema.es://knoema.es/user/1975840
Czech Republic Central Bank Balance Sheet

Central Bank Balance Sheet in Czech Republic increased to 3333572.50 CZK Million in May from 3303537.90 CZK Million in April of 2019.

Nematullah Khan knoema.es://knoema.es/user/1975840
Yield Spread for China's Government Bond //knoema.es/fiberjc/yield-spread-for-china-s-government-bond 2019-04-05T15:04:01Z Nematullah Khan knoema.es://knoema.es/user/1975840
Yield Spread for China's Government Bond

Nematullah Khan knoema.es://knoema.es/user/1975840
Will Global Debt Expansion Trigger the Next Financial Downturn? //knoema.es/deerbfd/will-global-debt-expansion-trigger-the-next-financial-downturn 2019-03-21T16:41:48Z Alex Kulikov knoema.es://knoema.es/user/1847910
Will Global Debt Expansion Trigger the Next Financial Downturn?

In the 10 years since the 2008-2009 global financial crisis, aka “Great Recession,” the global debt of the non-financial sector increased by 53 percent to reach $178 trillion in the third quarter of 2018, according to the Bank for International Settlements. Global debt, which represents the outstanding credit provided by domestic banks and other institutions to households, non-financial corporations, and government, is quite simply the driver of the modern economy. Over the 2008-2018 period, each percent of GDP growth in G20 countries required, on average, 1.6 percent of debt growth.Government debt in advanced economies and the debt of non-financial corporations in emerging economies is behind this increase in post-crisis debt. This is a marked difference from the pre-crisis period surge in the household and non-financial corporations debt in advanced economies (leading ultimately to the housing market collapse and resulting global contagion). Uncontrolled debt growth of this nature may cause a myriad of problems locally and globally, however, several factors suggest that the next financial downturn will be less severe.Household debt growth in advanced economies, which was the primary reason for the 2008 financial crisis, has decelerated compared to the pre-crisis period. Whereas during the eight years before the crisis the debt of households soared 105 percent in advanced economies, in the 10 years after the crisis, household debt rose only 5 percent. In the Euro area, the debt of households even contracted by seven percent.Within the new emerging market debt, the growth in Chinese corporate debt stands out, surging almost three times since 2008. But, since Chinese companies borrow primarily from domestic institutions, it is less likely that defaults of Chinese corporate debt would lead directly to a global economic downturn.Only government debt has continued unchecked since 2008. Still, as long as investors around the world are confident in the government debt of major advanced economies, the growth of government debt is not immediately dangerous either. So, where then should there be cause for concern if in fact a crisis is inevitable, cyclical even? We're keeping close tabs on China. The structure and volume of its external debt, among other factors, may be the trigger for an economic recession in China causing far reaching economic problems globally.

Alex Kulikov knoema.es://knoema.es/user/1847910
FDI Equity Inflows in India //knoema.es/cmawbde/fdi-equity-inflows-in-india 2019-03-21T12:38:14Z Nematullah Khan knoema.es://knoema.es/user/1975840
FDI Equity Inflows in India

Nematullah Khan knoema.es://knoema.es/user/1975840
Moody's Sovereigns Ratings List //knoema.es/zhzdbob/moody-s-sovereigns-ratings-list 2019-02-18T05:59:57Z Nematullah Khan knoema.es://knoema.es/user/1975840
Moody's Sovereigns Ratings List

Nematullah Khan knoema.es://knoema.es/user/1975840
Equity Growth of Other Monetary Financial Institutions //knoema.es/wuhqku/equity-growth-of-other-monetary-financial-institutions 2018-11-16T14:18:23Z Alex Kulikov knoema.es://knoema.es/user/1847910
Equity Growth of Other Monetary Financial Institutions

Alex Kulikov knoema.es://knoema.es/user/1847910
ATM Penetration-Financial Inclusion //knoema.es/wlbhpb/atm-penetration-financial-inclusion 2018-10-31T07:01:04Z Nematullah Khan knoema.es://knoema.es/user/1975840
ATM Penetration-Financial Inclusion

Nematullah Khan knoema.es://knoema.es/user/1975840
Top Asset Management companies //knoema.es/zdbtjrd/top-asset-management-companies 2018-07-26T15:49:24Z Nematullah Khan knoema.es://knoema.es/user/1975840
Top Asset Management companies

The year 2018 marks a decade since the collapse of Lehman Brothers, the US investment bank. On September 15, 2008, the bank filed for bankruptcy. With $639 billion in assets and $619 billion in debt, Lehman's bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron. Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000 employees worldwide. After the crisis, finance industry came under drastic regulation change from regulators, politicians and in public discourse. A new regulations has fundamentally changed the asset management industry. Spite of stiff regulations on financial industries, overall assets of the industry have continued to rise to € 65.7 trillion from €26.5 trillion in 2009. This upward trend looks positive and set to continue. Among top asset managers, Black Rock stands at first rank with € 5,315,409 million for 2018 (value is till 31st Dec 2017).

Nematullah Khan knoema.es://knoema.es/user/1975840
Key Governance & Related Datasets //knoema.es/angzhjf/key-governance-related-datasets 2018-02-16T10:30:44Z Balaji S knoema.es://knoema.es/user/1000220
Key Governance & Related Datasets

Open Governance India has 120+ different data sets, more than 2 million time series and 20 million data points across various topics of interests.

Balaji S knoema.es://knoema.es/user/1000220
Seventh Middle East Conference on Global Business, Economics, Finance and Banking //knoema.es/azwlei/seventh-middle-east-conference-on-global-business-economics-finance-and-banking 2018-01-23T09:21:24Z Alina Buzanakova knoema.es://knoema.es/user/1293450
Seventh Middle East Conference on Global Business, Economics, Finance and Banking

We are delighted to inform you that a Seventh Middle East Conference on Global Business, Economics, Finance and Banking is being jointly organized by the prestigious SDMIMD, Mysore, Karnataka State, India and the Global Business  Research Journals (GBRJ). You are cordially invited to submit your research  manuscripts/case studies in all areas of research in Business. In addition to paper presentations and discussions, the Conference will include invited lectures on contemporary topics in emerging trends in Global Business, Economics, Finance and Banking. Event Holder: J A Alpha Business Research & Publishers Pvt. Ltd. Date: 6 October 2018

Alina Buzanakova knoema.es://knoema.es/user/1293450
IFS - Monetary and Financial Statistics by Indicator: Broad Money Growth Rate //knoema.es/cxdyepd/ifs-monetary-and-financial-statistics-by-indicator-broad-money-growth-rate 2017-12-25T07:00:08Z Alex Kulikov knoema.es://knoema.es/user/1847910
IFS - Monetary and Financial Statistics by Indicator: Broad Money Growth Rate

Broad Money Growth Rate | Base Money Growth Rate | Monetary Base to Broad Money Ratio Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
IFS - Monetary and Financial Statistics by Indicator: Base Money Growth Rate //knoema.es/hbtndgc/ifs-monetary-and-financial-statistics-by-indicator-base-money-growth-rate 2017-12-25T06:56:35Z Alex Kulikov knoema.es://knoema.es/user/1847910
IFS - Monetary and Financial Statistics by Indicator: Base Money Growth Rate

Broad Money Growth Rate | Base Money Growth Rate | Monetary Base to Broad Money Ratio Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
IFS - Monetary and Financial Statistics by Indicator: Monetary Base to Broad Money Ratio //knoema.es/qfgbime/ifs-monetary-and-financial-statistics-by-indicator-monetary-base-to-broad-money-ratio 2017-12-22T14:07:21Z Alex Kulikov knoema.es://knoema.es/user/1847910
IFS - Monetary and Financial Statistics by Indicator: Monetary Base to Broad Money Ratio

Broad Money Growth Rate | Base Money Growth Rate | Monetary Base to Broad Money Ratio Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
Monetary and Financial Statistics by Country: Non-SRF Countries //knoema.es/bodaiad/monetary-and-financial-statistics-by-country-non-srf-countries 2017-12-22T12:57:42Z Alex Kulikov knoema.es://knoema.es/user/1847910
Monetary and Financial Statistics by Country: Non-SRF Countries

SRF Countries | Non-SRF Countries Source: International Financial Statistics (IFS) For the exact naming of Monetary Aggregates, please refer to IFS Metadata Documents

Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Central Bank //knoema.es/xwrbdpb/surveys-based-on-standardized-report-forms-srfs-central-bank 2017-12-22T12:14:37Z Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Central Bank

Surveys Based on SRFs | Surveys Based on Non-SRFs Central Bank | Other Depository Corporations | Depository Corporations | Other Financial Corporations | Financial Corporations Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Depository Corporations //knoema.es/nizllbc/surveys-based-on-standardized-report-forms-srfs-depository-corporations 2017-12-22T12:10:33Z Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Depository Corporations

Surveys Based on SRFs | Surveys Based on Non-SRFs Central Bank | Other Depository Corporations | Depository Corporations | Other Financial Corporations | Financial Corporations Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Other Depository Corporations //knoema.es/alrzpje/surveys-based-on-standardized-report-forms-srfs-other-depository-corporations 2017-12-22T12:07:13Z Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Other Depository Corporations

Surveys Based on SRFs | Surveys Based on Non-SRFs Central Bank | Other Depository Corporations | Depository Corporations | Other Financial Corporations | Financial Corporations Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Financial Corporations //knoema.es/dilxwef/surveys-based-on-standardized-report-forms-srfs-financial-corporations 2017-12-22T12:01:56Z Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Financial Corporations

Surveys Based on SRFs | Surveys Based on Non-SRFs Central Bank | Other Depository Corporations | Depository Corporations | Other Financial Corporations | Financial Corporations Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Other Financial Corporations //knoema.es/tpiukyg/surveys-based-on-standardized-report-forms-srfs-other-financial-corporations 2017-12-22T06:22:50Z Alex Kulikov knoema.es://knoema.es/user/1847910
Surveys Based on Standardized Report Forms (SRFs): Other Financial Corporations

Surveys Based on SRFs | Surveys Based on Non-SRFs Central Bank | Other Depository Corporations | Depository Corporations | Other Financial Corporations | Financial Corporations Source: International Financial Statistics (IFS)

Alex Kulikov knoema.es://knoema.es/user/1847910
International Financial Statistics (IFS) //knoema.es/gycbopb/international-financial-statistics-ifs 2017-12-21T13:52:55Z Alex Kulikov knoema.es://knoema.es/user/1847910
International Financial Statistics (IFS)

The International Financial Statistics (IFS) has introduced changes in the presentation of the monetary statistics for the Euro Area and its member countries. The new presentation alignes  the accounts of depository corporations in the Euro Area with the methodology of the IMF's Monetary and Financial Statistics Manual, 2000 and Monetary and Financial Statistics Compilation Guide.

Alex Kulikov knoema.es://knoema.es/user/1847910
Monetary and Financial Statistics by Country: SRF Countries //knoema.es/xjmhisg/monetary-and-financial-statistics-by-country-srf-countries 2017-12-20T11:42:18Z Alex Kulikov knoema.es://knoema.es/user/1847910
Monetary and Financial Statistics by Country: SRF Countries

SRF Countries | Non-SRF Countries Source: International Financial Statistics (IFS) For the exact naming of Monetary Aggregates, please refer to IFS Metadata Documents

Alex Kulikov knoema.es://knoema.es/user/1847910
Top 500 Indian companies Ranking //knoema.es/lxjhief/top-500-indian-companies-ranking 2017-10-27T11:00:31Z Balaji S knoema.es://knoema.es/user/1000220
Top 500 Indian companies Ranking

Balaji S knoema.es://knoema.es/user/1000220
Fortune 500 Companies Revenues //knoema.es/sjtnehe/fortune-500-companies-revenues 2017-10-11T13:23:54Z Balaji S knoema.es://knoema.es/user/1000220
Fortune 500 Companies Revenues

Access key financial data for the last 20 years. Pick your favorite Fortune 500 company (2013) Name from the list above.

Balaji S knoema.es://knoema.es/user/1000220
The Panama Papers: Key Statistics //knoema.es/vutfzc/the-panama-papers-key-statistics 2016-08-04T07:24:37Z Alex Kulikov knoema.es://knoema.es/user/1847910
The Panama Papers: Key Statistics

The Washington, DC-based International Consortium of Investigative Journalists (ICIJ) has released a database of the so-called Panama Papers - information leaked primarily from Mossack Fonseca, one of the world's leading global law firms providing services of incorporation of offshore entities and headquartered in Panama. The leak is the largest ever of offshore financial records and contains about 11.5 million legal and financial records dating back more than 40 years.  The files expose more than 213,000 offshore entities created in 21 jurisdictions, stripping away the secrecy from the offshore holdings of 238,000 people from 200 countries, including 140 politicians and public officials. The Panama Papers came to be in late-2014 when an anonymous source transferred more than 2.6 terabytes of data from Mossack Fonseca - including documents, electronic spreadsheets, and letters - to reporters at the German newspaper Süeddeustche Zeitung. Since the data received by the newspaper were raw reports and not a standardized registry, the newspaper asked the ICIJ to organize a global collaborative to analyze the files. The combined effort of more than 370 reporters from around the world allowed for the creation of a structured database which is convenient to use for analysis of the leaked data. The database covers only a portion of the leaked records, avoiding disclosure of personally identifying information related to bank accounts, emails, and financial transactions. The data indicates that Mossack Fonseca collaborated with more than 14,000 intermediaries - usually banks, law-firms or middlemen going between those seeking an offshore firm and a provider of offshore services. Most of the intermediaries (about 38%) operated in Hong Kong, Switzerland, and the United Kingdom. With the help of this broad network of go-betweens, Mossack Fonseca set up more than 213,000 companies, trusts and foundations for its customers. However, the records show that since 2011 clients of the law firm have been rapidly deactivating their offshore entities. Thus, during the last four years the number of incorporated offshore companies declined by almost 50 percent. This is partly due to the fact that offshore companies as a rule are active for only a short period of time. Among 21 offshore jurisdictions, the most popular is the British Virgin Islands, home to almost a half of all entities captured in the dataset. The second most favorable tax haven is Panama, accounting for 48,373 incorporations. For more information, visit the ICIJ official Offshore Leaks Database website. 

Alex Kulikov knoema.es://knoema.es/user/1847910
Domestic Credit to Private Sector //knoema.es/uqcfwcc/domestic-credit-to-private-sector 2016-01-11T09:33:57Z Alex Kulikov knoema.es://knoema.es/user/1847910
Domestic Credit to Private Sector

Alex Kulikov knoema.es://knoema.es/user/1847910
Oil Majors Key Statistics //knoema.es/awtmuwe/oil-majors-key-statistics 2015-12-24T18:33:45Z Mikhail Zhukovskii knoema.es://knoema.es/user/1293430
Oil Majors Key Statistics

Mikhail Zhukovskii knoema.es://knoema.es/user/1293430
Quick View of Global Financial Development //knoema.es/bbdtjfd/quick-view-of-global-financial-development 2015-11-17T09:28:27Z Balaji S knoema.es://knoema.es/user/1000220
Quick View of Global Financial Development

Simplest view of how each countries are doing in their financial development.   Source: World Bank  

Balaji S knoema.es://knoema.es/user/1000220
Corporate Score Card of Fortune 500 Companies, Quarterly //knoema.es/miisepc/corporate-score-card-of-fortune-500-companies-quarterly 2015-11-07T06:23:36Z Balaji S knoema.es://knoema.es/user/1000220
Corporate Score Card of Fortune 500 Companies, Quarterly

Note: Grey background in each chart represents US Recession period. Source: America's Fortune 500 Company Financials

Balaji S knoema.es://knoema.es/user/1000220
Face Value, Book Value & Earnings Per Share Ranks in Indian Listed Companies //knoema.es/yobhtdg/face-value-book-value-earnings-per-share-ranks-in-indian-listed-companies 2014-12-24T07:53:47Z Balaji S knoema.es://knoema.es/user/1000220
Face Value, Book Value & Earnings Per Share Ranks in Indian Listed Companies

Balaji S knoema.es://knoema.es/user/1000220
TCS vs Infosys //knoema.es/lysclxb/tcs-vs-infosys 2014-09-12T10:50:12Z Balaji S knoema.es://knoema.es/user/1000220
TCS vs Infosys

Source: Top 500 Indian Companies Financial Statistics (Standalone) up to July 2014 

Balaji S knoema.es://knoema.es/user/1000220
ONGC vs Reliance //knoema.es/mzezeid/ongc-vs-reliance 2014-09-12T10:49:51Z Ragothamman Piskalan knoema.es://knoema.es/user/1208370
ONGC vs Reliance

Source:- Top 500 Indian companies financial-statistics-standalone-up-to-july-2014

Ragothamman Piskalan knoema.es://knoema.es/user/1208370
Company Financials Dashboard //knoema.es/nwjhmib/company-financials-dashboard 2014-09-12T06:54:40Z Balaji S knoema.es://knoema.es/user/1000220
Company Financials Dashboard

Source: Top 500 Indian Companies Financial Statistics (Standalone) up to July 2014  

Balaji S knoema.es://knoema.es/user/1000220
Bank & Post Office Report across States, 2008-2010 //knoema.es/pnrlmh/bank-post-office-report-across-states-2008-2010 2012-05-01T12:30:47Z Balaji S knoema.es://knoema.es/user/1000220
Bank & Post Office Report across States, 2008-2010

Balaji S knoema.es://knoema.es/user/1000220