Global Economic Prospects : Financial Market Outlook, July 2013

Global financial markets were largely stable during the past year, not with-standing the recent uptick in volatility amid uncertainty over the timing of an eventual tapering off of quantitative easing. Improved financial conditions are reflected in...

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Bibliographic Details
Main Authors:	Aykut, Dilek, Kim, Eung Ju
Format:	Publications & Research
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	ACCOUNTING ASSET PRICES BAILOUT BALANCE OF PAYMENTS BANK FINANCING BANK LENDING BANK LOANS BANK OF JAPAN BANK SPREADS BANKING SYSTEM BANKING UNION BASIS POINTS BENCHMARK BENCHMARK YIELDS BENEFICIARY BOND BANK BOND FINANCING BOND FLOWS BOND ISSUANCE BOND ISSUERS BOND ISSUES BOND SPREAD BOND SPREADS BOND YIELDS BONDHOLDERS BONDS BORROWING COST BORROWING COSTS BP BPS CAPITAL CONTROLS CAPITAL FLOWS CAPITAL OUTFLOWS CAPITAL RATIO CDS CENTRAL BANK CENTRAL BANKS COMMODITY COMMODITY PRICES COMPOSITE INDEX CONSUMER BASE CORPORATE BOND CORPORATE BOND ISSUANCE CORPORATE EARNINGS COST OF CAPITAL COUNTRY DEBT COUNTRY EQUITIES CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT QUALITY CREDITORS CURRENCY ASSETS CURRENT ACCOUNT BALANCE DEBT CRISIS DEBT FLOWS DEBT ISSUANCE DEBT MARKETS DEBT SECURITIES DEBT SWAPS DEFLATION DEPOSIT DEPOSITORS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING COUNTRY STOCK MARKET DEVELOPING COUNTRY STOCK MARKETS DEVELOPING ECONOMIES DOMESTIC MARKET EARLY REPAYMENT ECONOMIC OUTLOOK EMERGING MARKET EMERGING MARKET EQUITY EMERGING MARKET EQUITY FUNDS EMERGING MARKETS EQUITY BOND EQUITY FLOWS EQUITY FUNDS EQUITY INDEX EQUITY ISSUANCE EQUITY MARKET EQUITY MARKETS EUROBOND EUROPEAN CENTRAL BANK EXPOSURES EXTERNAL DEBT FEDERAL RESERVE FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL MARKETS FISCAL CONSOLIDATION FOREIGN ASSETS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENT FOREIGN INVESTORS FOREIGN MARKETS FOREIGN OWNERSHIP GDP GLOBAL ECONOMIC PROSPECTS GLOBAL FINANCIAL MARKETS GLOBAL FINANCIAL STABILITY GLOBAL RISK GLOBAL STOCK MARKETS GOVERNMENT BONDS GOVERNMENT DEFICITS GROWTH POTENTIAL HOLDING HOLDINGS INCOME INCOME FUNDS INITIAL PUBLIC OFFERING INTEREST RATE INTEREST RATE DIFFERENTIALS INTERNATIONAL BOND INTERNATIONAL BOND MARKET INTERNATIONAL BOND MARKETS INTERNATIONAL CAPITAL INTERNATIONAL CAPITAL MARKETS INTERNATIONAL INVESTMENT INVESTMENT FLOWS INVESTMENT TRUST INVESTMENT TRUSTS INVESTOR CONFIDENCE INVESTOR INTEREST IPO ISSUANCES JURISDICTIONS LABOR COSTS LENDERS LOAN LOCAL CURRENCY LOCAL DEBT LONG-TERM MATURITY MARKET LIQUIDITY MARKET PERFORMANCE MARKET RETURNS MARKET UNCERTAINTY MARKET VOLATILITY MATURITY MIDDLE-INCOME COUNTRIES MONETARY POLICY MULTINATIONAL CORPORATIONS MUTUAL FUNDS NATURAL RESOURCES NET CAPITAL OFFSHORE BANKING POLITICAL RISKS PORTFOLIO PORTFOLIO INVESTMENT PORTFOLIOS PRIVATE CAPITAL PRIVATE CAPITAL FLOWS PRIVATE CAPITAL INFLOWS PRIVATE CREDITORS PRIVATE DEBT PRIVATE SECTOR DEBT PRIVATIZATION PRODUCTION COSTS PROPERTY MARKETS RATING AGENCIES REGULATORY ENVIRONMENT REPAYMENT RETURN RISK AVERSION RISK PROFILES S&P SECONDARY-MARKET SHORT-TERM DEBT SOVEREIGN BOND SOVEREIGN DEBT SOVEREIGN DEBT RESTRUCTURING SOVEREIGN DEFAULT SOVEREIGN RATINGS STOCK MARKET STOCK MARKET INDEX STOCK MARKET INDEXES STOCK MARKET INDICES STOCK MARKETS TRADE FINANCE TREASURIES TREASURY TREASURY BOND TREASURY BOND YIELD TREASURY BOND YIELDS TREASURY YIELD TREASURY YIELDS TRUST FUNDS VOLATILITY WAGES WORKING CAPITAL WORLD TRADE WORLD TRADE ORGANIZATION
Online Access:	http://documents.worldbank.org/curated/en/2013/07/23946603/null http://hdl.handle.net/10986/21526

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Summary:	Global financial markets were largely stable during the past year, not with-standing the recent uptick in volatility amid uncertainty over the timing of an eventual tapering off of quantitative easing. Improved financial conditions are reflected in a strong rebound in gross capital flows (international bond issuance, cross-border syndicated bank loans and new equity placements) to developing countries, which were 63 percent higher in the first five months of 2013 than during the same period in 2012. Foreign direct investment (FDI) inflows to developing countries increased by 9 percent during the first quarter of 2013 on a year-on-year basis, with a mixed picture across countries. Since late May, financial market volatility has increased, with increased expectations about possible tapering of U.S. quantitative easing in coming months and uncertainty over its impacts. Although there have been some large stock market corrections in some Asian countries, so far the overall impact has been moderate. Bond yields on developing country debt are also on the rise as base rates and spreads increase.

Global Economic Prospects : Financial Market Outlook, July 2013

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