The Global Collateral Trap

Published on
May 8th, 2019
Duration
29 minutes

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27

The Global Collateral Trap

The Expert View ·
Featuring Michael Howell

Published on: May 8th, 2019 • Duration: 29 minutes

Could a global collateral crunch cause "hair-trigger" markets to plunge into a 2008-style sell-off? Michael Howell, founder and managing director of CrossBorder Capital, breaks down the causes, and likely effects, of a liquidity crisis in global financial markets. Filmed on May 2, 2019 in London.

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Transcript

Chapters

  1. 00:01:21
    Why does liquidity matter more than interest rates?
  2. 00:04:01
    What are the sources of liquidity?
  3. 00:09:54
    Where are we in the liquidity cycle now?
  4. 00:14:06
    What’s the relative risk in U.S. markets?
  5. 00:16:36
    Is there a risk that markets have gotten ahead of themselves?
  6. 00:20:37
    Is the Fed facing structural risk in the system?
  7. 00:21:23
    Who is in control of global liquidity?
  8. 00:22:04
    How long do you expect the current liquidity regime to last?
  9. 00:23:15
    What could trigger the next crisis?
  10. 00:24:03
    What’s your final takeaway on liquidity?