Why liquidity evaporates when it is most needed
A common feature of flash crash episodes in financial markets is that liquidity vanishes precisely when it is most needed. This column argues that this
Using global shocks as a laboratory to study executive pay
It is often claimed that executives reap rewards from favourable market tailwinds they did nothing to create. This column uses two decades of Danish data
The case for a European Union digital enforcement authority
The European Union’s digital rulebook could be better enforced by delegating some of the European Commission’s powers to an independent agency. The European Commission plays
The non-fungible token bubble: What investors actually earned
The non-fungible token market exploded in 2021, but by late 2022 prices had collapsed. This column uses blockchain records for two major non-fungible token platforms
Credit default swaps: Analysis and policies
Credit default swap spreads have become critical benchmarks for credit risk assessment. A recent report from the European Systemic Risk Board, however, uncovers a range
From tariffs to trade flows: Diversion effects and China’s exports to the EU
High US tariffs on imports from China in the first half of 2025 led to concerns about a large-scale redirection of Chinese exports to the
Beyond tariffs: A better approach to green industrial policy
Governments impose tariffs to protect domestic clean-energy industries and accelerate decarbonisation, but tariffs can increase the costs of deploying clean technologies. This column analyses the
Bonds bonanza: Region’s issuers front-load deals amid rising uncertainty
Iran is one among many global uncertainties that could cause spreads to widen sharply. Saudi Arabia and the UAE led a wave of regional entities
Gold pares losses from index rebalancing, steadies ahead of US jobs data
U.S. gold futures for February delivery firmed 0.4% to $4,477.70. Gold prices pared early losses on Friday, as investors weighed geopolitical against the ongoing rebalancing
Stocks bide time before jobs report, tariff ruling
Brent futures rose 0.8% to $62.49 per barrel, while U.S. West Texas Intermediate (WTI) crude advanced 0.8% to $58.25. Asian stocks drifted lower and the
