BIS’s latest Quarterly Review analyses lending patterns and long-term growth prospects

Article summary

The Bank for International Settlements (BIS) has published its March 2022 Quarterly Review which analyses lending patterns and long-term growth prospects. The Review looks at jolts to markets from 29 November 2021 to 21 February 2022 noting that before the sharp escalation of geopolitical tensions ushered in a new wave of uncertainty, financial markets had been jolted by signals of a global shift towards a quicker pace of monetary policy tightening. During the period under review, government bond yields increased significantly. Stock markets fell amid an investor rotation away from technology and other growth stocks and into value stocks. Corporate credit spreads were little affected, by comparison. Financial conditions tightened moderately in non-Asian emerging market economies (EMEs).