Government bond yields have increased, while equity prices and exchange rates have gyrated
Financial conditions fell especially sharply in external deficit EMEs
Banking sector vulnerabilities have surfaced in some EMEs
External vulnerability indicators in selected EMEs
Direct trade exposures to non-OECD economies are large in some countries
A domestic demand slowdown in the non-OECD could have sizeable adverse activity effects
Banks' foreign claims on emerging market economies
Aggregate financial conditions have tightened slightly in the euro area and the United States
Market participants now expect earlier and faster monetary policy tightening
Household financial liabilities are now declining in more economies
Responsiveness to Going for Growth recommendations
There has been progress in reforming labour markets
Labour market slack is diverging and large overall
Relative unit labour costs are continuing to adjust in the euro area
Capital needs in euro area banks to reach a 5% leverage ratio are still large
The impact of government bond yield increases on banks' balance sheets
Fiscal policy stance under the EU fiscal rules
Financial-accounts-related risk factors to financial stability
The global recovery will gain momentum only slowly
Housing market developments continue to diverge
OECD labour market conditions are likely to improve slowly
World trade will strengthen only gradually
US fiscal consolidation only
US fiscal consolidation financial markets shock
Fiscal positions will continue to improve
Binding fiscal rules over the medium term
Indicators of potential financial vulnerabilities