Fuelling the international commodity prices has also been the fall in US dollar which has driven investors to chase gold and oil markets. In a globally integrated world the costs of re-anchoring inflation expectations are likely to be punitive.
*  *  *  It is a pleasure to be with you today. These conferences sponsored by the Institute on Law and Financial Services bring together a diverse group of individuals with interests in banking and financial markets, facilitating discussion of issues that cut across disciplines. This year’s program, which explores topics associated with risk management for derivatives, is no exception.