ILS contract = ILS contracts exchange at maturity the fixed swap rate agreed in advance against the average inflation rate realised over the life of the swap, with both rates applied to a notional amount. Unlike break-even inflation rates derived from inflation-linked and nominal sovereign bonds issued by specific euro area member states, ILS rates are less affected by market liquidity issues.
Ensinnäkin iso kiitos mielenkiintoisesta blogista.
Esim „YOY“, „MOM“ ovat vielä tuttuja lyhenteitä, mutta mikä on 1Y1Y? Ja ILS tuossa E. Schnabelin esityksen taukukossa?
1y1y = one year, one year forward.
ILS contract = ILS contracts exchange at maturity the fixed swap rate agreed in advance against the average inflation rate realised over the life of the swap, with both rates applied to a notional amount. Unlike break-even inflation rates derived from inflation-linked and nominal sovereign bonds issued by specific euro area member states, ILS rates are less affected by market liquidity issues.
EKP käyttää ILS korkoa arvioidessaan markkinoiden inflaatio-odotuksia. Ks. https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202108_04~e1a3c5e88a.en.html