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Ireland's emerging macroprudential framework: two cases, one template
Two CBI deployments in three years — property funds and Sterling LDI — and what they say about the Eurosystem's reciprocation proposal. Part 2 of 2.
May 25
•
Paweł Fiedor
Twelve years of evidence: did Germany's OEIF macroprudential template work?
A useful cohort comparison in retail open-ended property funds suggests the answer is yes — with important caveats. Part 1 of 2 on Europe's existing…
May 18
•
Paweł Fiedor
Manufactured safety
Why Europe is reopening the safe-asset debate — and the financial engineering required to fix it
May 11
•
Paweł Fiedor
From points to regions
The methodological shift in EU stress testing, and why it took fifteen years
May 4
•
Paweł Fiedor
4
April 2026
Who Buys When the ECB Doesn't?
European sovereign debt markets are adjusting to life without the central bank. The buyers filling the gap are not equivalent substitutes.
Apr 27
•
Paweł Fiedor
20
Stablecoins, Sanctions and the Strait of Hormuz
From regulatory arbitrage to maritime chokepoints — why the macroprudential case against stablecoins just got harder to ignore
Apr 20
•
Paweł Fiedor
The Passive Herding Machine: Why ETFs Are Rewiring EM Contagion
The IMF has now quantified passive herding in emerging markets. Last month showed it in action.
Apr 13
•
Paweł Fiedor
When Everyone Heads for the Exit at Once
The private credit market is experiencing something its architects insisted could never happen. They were wrong, and the logic of why was always hiding…
Apr 6
•
Paweł Fiedor
1
March 2026
The Alchemy of Liquidity
Why "Targeted Clarifications" Will Not Save Europe’s Money Market Funds
Mar 30
•
Paweł Fiedor
The Liquidity Illusion
From the AI ETF boom to the hidden mechanics of market plumbing — why all exchange-traded funds are not created equal.
Mar 29
•
Paweł Fiedor
The Contagion Web
How shocks actually spread between banks and investment funds, and why single-sector models are no longer sufficient
Mar 29
•
Paweł Fiedor
Falconer’s Deafness
The Hollow Apologies of the Credentialed Class
Mar 29
•
Paweł Fiedor
1
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