Tuesday, 7 December, 2021
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Topic: Global Financial Crisis

File photo | A group of migrant workers headed to Uttar Pradesh on foot hoping to cover 700 km and meet family members, April 2020 | Photo: Suraj Singh Bisht | ThePrint

For the economy, Covid has been worse than WW-II and the global financial crisis

In ‘Indian Economy’s Greatest Crisis’, Arun Kumar writes what India can learn from China and the US on its road to economic recovery.

Modi govt and RBI can learn from mistakes made during 2008 crisis, but time’s running out

Lessons from the 2008 Global Financial Crisis can help us avoid policy mistakes during the Covid-19 pandemic, especially with respect to inflation & bad loans.
US markets

Financial markets no longer know how to define ‘safe’

Bears & financial doomsday preppers were ridiculed during bull market. They haven’t been vindicated, but people’s perception of risk has been forever altered.
File image of IMF Chief Economist Gita Gopinath | Photo: Andrew Harrer | Bloomberg

Nothing’s taboo for Gita Gopinath, IMF’s new chief economist & first woman in job

More than a decade since IMF failed to predict the financial crisis, Gita Gopinath plans to use “broadest lens possible” to find economic solutions.

Why Lehman’s Act 3 won’t play in emerging markets

The forces that hastened Lehman’s demise have steadied emerging markets in the last 10 years.
The Bombay Stock Exchange

India is having its own mini-Lehman moment on 10th anniversary of global financial crisis

IL&FS Group is woefully short of liquidity, with about $500 million in repayments coming due & only about $27 million available.
File image of Kamal Mahajan in his office in Mumbai | Bloomberg

How Bank of Baroda beat India’s worst bond-market rout in two decades

Bank of Baroda official Kamal Mahajan says it all began with a contrarian bet taken two years ago. Kamal Mahajan says he’s being asked just one question: how did he make money as peers lost $4.4 billion during India’s worst bond-market rout in two decades? The answer, according to the head of treasury and global markets at Bank of Baroda, goes back to a contrarian bet taken two years ago. As the Reserve Bank of India started an easing cycle in 2015, eventually cutting policy rates seven times, bond yields fell to levels not seen since the global financial crisis. While investors were lured into a one-way bet, Mahajan thought differently. “Traders, however experienced they are, tend to be carried away by the market noise,” said Mahajan, who manages $20 billion of sovereign debt at India’s second-biggest state lender. “Our model predicted the tightening cycle two years back and we started positioning...
Illustration: Ramandeep Kaur | ThePrint

Bezos, Branson & Musk — Are billionaires popularising space travel or just on an ego trip?

Jeff Bezos will travel to the edge of space in his New Shepard aircraft — more than a week after billionaire Richard Branson defeated him in a fast developing space race.