Mumbai, June 30 -- Hyun Song Shin, Economic Adviser and Head of the Monetary and Economic Department at the BIS has noted that global cross-border bond holdings have increased substantially. The open and international nature of the bond market has made this a global phenomenon. Analysing changes between 2015 and 2023 across the major regions of the world shows that the largest increases in portfolio holdings have been between advanced economies, especially between the United States and Europe. While current account imbalances crop up a lot when discussing international capital flows, it is worth bearing in mind that portfolio choice determines gross flows. And gross flows are only loosely related to net flows and current accounts.

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