Why Taiwanese Life Insurers Are The Great 'Whodunit' Of The Financial World
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 28 October 2019
⏱️ 52 minutes
🧾️ Download transcript
Summary
You probably haven't thought much about the Taiwanese life insurance industry. Why would you have? But they're among the most fascinating entities in the financial world. And for a long time they've been a source of incredible mystery. They've built up a gigantic position in foreign, US-dollar denominated assets in order to fund domestic liabilities denominated in Taiwanese Dollars. But how do they hedge this currency mismatch? Nobody has figured it out until now. On this week's podcast, we speak with Brad Setser of CFR and Exante Data about how he and a pseudonymous partner finally cracked the code.
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| 0:00.0 | Join us in New York on November 29th for the Bloomberg Canadian Finance Conference, |
| 0:04.6 | proudly sponsored by National Bank of Canada Financial Markets. |
| 0:07.8 | 2023 marks the 11 year anniversary of our Canada focused event and continues the tradition of providing timely |
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| 0:26.0 | Register at Bloomberg Live.com slash Canadian Finance slash radio. Hello and welcome to Tracy Allaway. |
| 0:45.0 | Tracy Allaway. |
| 0:48.0 | Tracy, I've been really happy with some of the strings of episodes that we've had lately, particularly sort of |
| 0:57.2 | talking about the relationship between a country's own domestic balance sheets, savings, profits, etc, and then how those funds |
| 1:07.0 | interact with the rest of the world. |
| 1:09.0 | That's good, Joe. I'm happy that you're happy. |
| 1:11.0 | I'm... |
| 1:12.0 | Thank you, Tracey, I really, uh, I really appreciate that. |
| 1:17.0 | You're welcome. |
| 1:18.0 | Did I just ruin your intro? |
| 1:20.0 | You just ruined it. |
| 1:21.0 | It felt so condescending. I'm sorry. I'm sorry. Yes, I agree with you. |
| 1:26.3 | I feel like I've been learning a lot from our recent string of guests is all I'm trying to say. |
| 1:30.4 | I mean I feel personally like we are tackling some of the really big picture question and issues in financial markets. |
| 1:39.2 | We're talking about these huge flows of money that actually dictate how the markets work. |
| 1:44.7 | Exactly right. So today we are going to talk about what is something that I feel like |
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