IMF Global Financial Stability Report
The IMF's twice-yearly survey of global financial stability: a risk assessment chapter plus analytical chapters on themes such as hedge funds, tokenization, private credit and emerging-market debt.
Free to read
The Global Financial Stability Report comes out each April and October alongside the World Economic Outlook. Chapter 1 assesses near-term risks across global markets: asset valuations, leverage, sovereign debt, emerging and frontier market financing, and the channels through which a shock could spread. The analytical chapters take on one structural theme each in depth.
The October 2026 edition, Resilience, Risk, and Transformation, includes a chapter on hedge funds and financial stability that puts global hedge fund assets at about $13 trillion, more than three times their 2013 level, and a chapter on tokenization of financial assets. The April 2026 edition focused on the market fallout from the war in the Middle East.
It works best as a global counterpart to the Fed's report. Read the executive summary for the IMF's ranking of risks, then the analytical chapter in your area, which often has cross-country data you will not find anywhere else.
Start with
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1
Global Financial Stability Report, October 2026: Resilience, Risk, and Transformation
The current edition, with the executive summary and every chapter.
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2
Chapter 2: Hedge funds and financial stability (PDF)
A data-heavy look at hedge fund leverage and its links to the rest of the system.
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3
Global Financial Stability Report, April 2026
The prior edition, useful for seeing how the IMF's risk view shifted over six months.