The Transmission of Global Risk
Posted: 13 Jul 2023
Date Written: June, 2023
Abstract
Turmoil in the banking sector in the U.S. and Europe in early 2023 brought jitters to financial markets and increased concerns about a global risk-off event. Risk-off episodes—periods of increased global risk aversion—are characterized by sharp increases in credit spreads, high volatility in equity markets, and appreciation of reserve currencies
Suggested Citation: Suggested Citation
Bodenstein, Martin and Cuba-Borda, Pablo and Queralto, Albert, The Transmission of Global Risk (June, 2023). FEDS Notes No. 2023-06-27, Available at SSRN: https://ssrn.com/abstract=4508238 or http://dx.doi.org/10.17016/2380-7172.3327
Martin Bodenstein (Contact Author)
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
Pablo Cuba-Borda
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
Albert Queralto
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
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