Hive Explainerssee more…

  1. 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...

  2. 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.

  3. 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.

  1. 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.

  2. 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...

  3. 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...

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. 

  1. 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.

  2. 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.

  3. 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.

What Is (Implied) Volatility?

Thorsten Wegener

Most of the time market volatility is not a hot topic – until it suddenly becomes relevant again even though it is, of...

  1. CBDC: Central Bank Digital Currency and the DLT Revolution

    Dominique Dwor-Frecaut

    So far central bank money in digital form has been available only to commercial banks. “Central bank digital currencies” (CBDC) would...

  2. Quantitative Tightening and the Fed Balance Sheet

    Dominique Dwor-Frecaut

    Quantitative tightening (QT) is when a central bank (like the Federal Reserve) reduces the size of its balance sheet, typically by not...

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