Markets Under Pressure: Major Sovereign Bonds and Beyond (Ended)
Presented By: The Chicago Council on Global Affairs and CFA Society Chicago
Major sovereign bond markets are the cornerstone of the financial system. They not only provide a method for governments to raise funds but also offer low-risk, long-term assets for pension funds and insurance companies to invest in, serve as a yardstick for other asset prices, and give investors a means to hedge interest rate risks. Yet, their smooth functioning cannot be taken for granted. Flashes of extreme volatility have punctuated periods of extraordinary calm. This year, record amounts of European and Japanese government bonds-as much as $6 trillion-yielded negative interest, implying that lenders paid governments to borrow rather than the other way around. What does this mean for markets, investors, and the global economy?
CFA Chicago Members: $10
President's Circle, Corporate, Sponsor, Donor, and Student Members complimentary
Attire: Business Attire Required
Registration: Online with Chicago Council - CFA Chicago members use promotional code MARKETS16 at check out. Please note you will need to create an account with Chicago Council of Global Affairs in order to register for this event. Create New Account
5:30 pm: Registration and cash bar reception
6:00 pm: Presentation and discussion
7:15 pm: Adjournment
Jaime Caruana became general manager of the Bank for International Settlements in 2009. He is also a member of the Group of Thirty. Previously, he was financial counsellor to the managing director and director of the Monetary and Capital Markets Department of the International Monetary Fund. From 2000 to 2006, Caruana was the governor of the Bank of Spain (Spain's central bank) and in that capacity, served on the Governing Council of the European Central Bank. He was also the chairman of the Basel Committee on Banking Supervision from 2003 to 2006, and has been a member of the Financial Stability Board since 2003. Previously, he worked in the private financial sector for nearly 10 years.
Content shared during CFA Society Chicago programs is not, and nothing in it should be construed as, an offer, invitation or recommendation of any specific financial services company or professional, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy, any securities in any jurisdiction. By registering for and attending this event, you acknowledge that any photographs that may be taken are the property of CFA Society Chicago and give your consent to their use in CFA Society Chicago's online and print business communications and marketing.