Hive Explainerssee more…

  1. How Long Will This Bear Market Last?

    John Tierney

    With the S&P 500 down around 20% from its recent high, we are in a bear market. We offer a framework to assess what stage it is in and what likely comes next.

  2. Why Do Central Banks Use Futures Prices?

    Henry Occleston

    Futures prices are important to understand. They are used by various institutions in their forecasts and thus help shape government and central bank policy.

  3. Stablecoin: What Should an Investor Know?

    Dalvir Mandara

    Stablecoins are cryptocurrencies that are supposed to maintain a 1:1 peg against a reference asset (e.g., USD).

  1. What Are TLTROs? And How Will They Affect ECB Monetary Policy in 2022?

    Henry Occleston

    Targeted longer-term refinancing operations (TLTROs) are a form of non-regular, longer-term lending the Eurosystem offers to banks.

  2. Why Is the EU Looking to Ban Russian Oil?

    Henry Occleston

    The European Union (EU) is debating a ban (or embargo) on imports of Russian crude oil and petroleum.

  3. Stagflation: What Is It? And Will It Drive Prices in 2022?

    Dominique Dwor-Frecaut

    Stagflation is the persistence of negative GDP growth – or rising unemployment – and high inflation, which we can define as inflation above 2%.

The Fed Balance Sheet: What Happens in May 2022?

Dominique Dwor-Frecaut

Recent Fed communications suggest it will announce the start of quantitative tightening (or securities portfolio shrinkage) at next week’s FOMC meeting. In this explainer...

Convexity and Duration as Factors in Bond Market Investment

Sam van de Schootbrugge

In this explainer, we cover how to price a bond, how to use duration to predict bond price changes, and how to use convexity to get better estimates of profit and loss.

  1. What Proof-of-Stake Is and Why It Matters for Blockchain

    Dalvir Mandara

    What is proof of stake? This explainer explores what PoS is, how it works, its weaknesses as well as which cryptocurrencies use it.

  2. Fertilizer Prices in 2022: How Will They Affect Food Markets?

    John Tierney

    Fertilizer prices rose 50% since the invasion of Ukraine because Russia is the leading exporter of fertilizer and related raw materials.

  3. What Is Causing Inflation? And Can the Fed Lower It Without a Recession?

    Dominique Dwor-Frecaut

    Inflation is a positive growth in the price of goods and services. A one-off increase in the level of prices does not cause inflation...

How the Baltic Dry Index Impacts Markets

John Tierney

The Baltic Dry Index (BDI) is one of those more obscure financial indicators that turns up in the financial press from time to time when freight shipping rates break out...

The EU Taxonomy: Its Meaning, Objectives and Usage

Henry Occleston

The EU taxonomy (or green taxonomy) arose in response to the issue of greenwashing. So-called green investment and green finance have been...

  1. Explaining Crypto Mining: Altcoins and Bitcoin Mining

    Dalvir Mandara

    But how do we mine bitcoin? What does it mean for miners to reach a consensus? And is it profitable to mine bitcoin? In this explainer, we demystify these questions and more. 

  2. The SWIFT Payment System: Does Ejecting Russia Matter?

    Henry Occleston

    The Society for Worldwide Interbank Financial Telecommunications is explained alongside its connection to the import and export of Russian goods.

  3. Market Monetarism and Nominal GDP Targeting

    Julius Probst, PhD and Sam van de Schootbrugge

    We define market monetarism, examine nominal GDP targeting versus inflation targeting, and explore how this new monetarist school relates to Milton Friedman’s monetarism.

Semiconductors and the Global Chip Shortage

Henry Occleston

Semiconductor shortages have been big news since the pandemic. No single factor explains them. COVID was clearly an exacerbating factor...

Blockchain and Distributed Ledgers

Dalvir Mandara

Find the answers to questions like 'What are blockchains?' and 'How can I understand distributed ledgers?' in this piece.

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