IMF：2025年4月全球金融稳定报告（英文版）

Since we last published the Global FinancialStability Repon (GFSR)in October 2024,financial stability risks have increased. Withelevated economic policy uncertainty, financialmarket volatility has risen and investor confdence hasturned to concern. Substantially elevated equity andbond market has tightened global financial conditions,indicating global financial markets may be at a turningpoint. While the role of the GESR is not to predictfuture shocks, it does identify vulnerabilities that can