3  CGFS (2014), “Market-making and Proprietary Trading: Industry Trends, Drivers and Policy Implications”, CGFS Papers No 52. Available at <http://www.bis.org/publ/cgfs52.htm>. Jon Cheshire, who was a member of the working group, has an article in the March RBA Bulletin discussing this issue from an Australian perspective. 4  BIS central bankers’ speeches  bringing about this reduction.
The market reaction to date suggests that this is more contained, unlike the more generalised crisis in 2011 when risk premia on all peripheral Eurozone bonds widened significantly. The Chinese economy continues to focus on rebalancing away from investment to domestic consumption.