Emerging Markets Navigate Global Interest Rate Volatility

January 31, 2024--Major emerging markets have shown resilience to global rate gyrations, but more challenging times could be ahead
Global interest rates in recent months have gone on a rollercoaster, especially those on longer-term government bonds. Yields on 10-year US Treasuries are climbing again after pulling back from a 16-year high of 5 percent in October. Interest rate moves in other advanced economies had been equally prodigious.

Emerging market economies, however, saw much milder rate moves. We take a longer-term perspective on this in our latest Global Financial Stability Report, demonstrating that the average sensitivity to US interest rates of 10-year sovereign yield of Latin American and Asian emerging markets declined by two-thirds and two-fifths, respectively, during the current monetary policy tightening cycle compared with the taper tantrum in 2013.

While the lower sensitivity is in part due to the divergence in monetary policy between advanced economies’ and emerging markets’ central banks over the past two years, it nonetheless challenges findings in the economic literature that show large spillovers from advanced economies’ interest rates to emerging markets. In particular, major emerging markets have been more insulated from global interest rate volatility than would be expected based on historical experience, especially in Asia.

Infographic-G20 Inflation Tracker: July

September 4, 2025--Key Highlights:
Argentina and Turkey remain outliers, with inflation at 36.6% and 33.5%-the highest in the G20 despite some cooling.
The United States held steady at 2.7%, lower than expected even amid tariff pressures.
The United Kingdom saw inflation climb to 3.8%, running hotter than market forecasts.

How Stablecoins and Other Financial Innovations May Reshape the Global Economy

September 4, 2025--Policymakers will need to achieve a difficult balance between benefits and risks while safeguarding both individual consumers and financial stability
Three years ago, Finance & Development devoted a full issue to anticipating "The Money Revolution," driven by innovations in finance, such as crypto assets. That revolution is now unfolding.

Finance Changed, Risks Didn't

September 4, 2025--New technologies are rewiring liquidity, payments, and economic stability
More than 15 years after the global financial crisis,the banking and financial system looks safer. But it's also evolving in ways that are reshaping who provides liquidity,how money moves,and risks to economic and financial stability. As a result,the next shock may begin not in a bank,but in the new infrastructure underpinning the system.

Ondo Brings Over 100 Tokenized U.S. Stocks and ETFs Onchain, Starting on Ethereum

September 3, 2025--Ondo Global Markets offers 24/7 onchain exposure to U.S. stocks and ETFs
Over 100 U.S. securities are now available, with hundreds more coming
Available to qualifying global (non-U.S.) investors, making Ondo one of the largest gateways to U.S. markets for global investors