Hyun Song Shin
@HyunSongShin
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Economic Adviser and Head of the Monetary and Economic Department, Bank for International Settlements
Basel, Switzerland
Joined February 2014
My podcast on stablecoins with Carmel Crimmins.
We're all about stablecoins on this week's @Reuters Econ World podcast. I spoke to @HyunSongShin to hear why top central bankers aren't fans. #stablecoins #geniusact #Crypto
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RT @carmelcrimmins: We're all about stablecoins on this week's @Reuters Econ World podcast. I spoke to @HyunSongShin to hear why top centra….
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RT @BIS_org: Listen to the media briefing by Agustin Carstens, Andréa M Maechler and @HyunSongShin about the BIS Annual Economic Report htt….
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RT @Reuters: 🔊 @HyunSongShin joins Reuters Econ World to talk stablecoins and financial stability risks. Listen now .
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RT @BIS_org: Listen to the media briefing by Agustin Carstens, Andréa M Maechler and @HyunSongShin about the BIS Annual Economic Report htt….
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RT @raulcalcaneoa: Una fuerza estabilizadora en tiempos turbulentos. @HyunSongShin Good paper! .
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RT @BIS_org: In the latest episode of BISness, Agustín Carstens and @HyunSongShin discuss the challenges facing the global economy and the….
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RT @BIS_org: The BIS Annual Economic Report 2025 is out #Trade #Inflation #NBFIs #Tokenisation #BISAnnualEconReport .
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RT @FGoria: The op-ed of @BIS_org's @HyunSongShin about the global economy is here . A stabilising force in turbulent times .
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RT @BIS_org: In this new episode of BISness, @HyunSongShin explains how tokenised platforms with central bank reserves, commercial bank mon….
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RT @BIS_org: .@HyunSongShin explains how tokenised platforms with central bank reserves, commercial bank money and government bonds can und….
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RT @VeriDelisi: This post summarizes "April 2025: How FX Hedging Amplified the US Dollar's Weakness" written by Hyun Song Shin, Philip Wool….
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RT @BIS_org: FX swaps are a key barometer of risk-taking and global financial conditions. FX derivatives like swaps and forwards connect gl….
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RT @BIS_org: In April 2025, the USD saw its largest declines during Asian trading hours, even as US Treasuries posted gains during those ho….
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Additional background is in my Goodhart lecture from May.
I gave a lecture at the London School of Economics on the structural changes in the global financial system and how they shed light on recent events. Some highlights:.
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FX swaps are key, as raising hedge ratios ex post entails selling dollars in the spot market.
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The bulletin shows that ex post hedging to mitigate losses from possible further dollar depreciation to be a more plausible reason for the dollar’s slide.
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The “triple decline” of stocks, bonds and the dollar in April gave rise to much initial commentary on an exit from U.S. assets and a diminished role of the dollar.
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BIS Bulletin on the slide in the dollar in April.
In recent years, the strength of the dollar and high currency hedging costs due to elevated short-term dollar interest rates had discouraged non-US investors from hedging their US dollar exposures. #hedging #dollar #forex #markets #BISBulletin
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