This paper develops measures of emerging market credit spreads for the 1990s, based on data on new bond issues and bank … loans, that cover a broader range of borrowers than the Brady bond spreads most commonly used to date. These measures are … used to identify the impacts of credit ratings, maturity and currency denomination on spreads. We find important regional …

downgrades tend to be accompanied by negative returns and widening spreads, with the average effects stronger than those that …

This paper tests a new hypothesis that bank managers issue bonds, at least in part, to convey positive, private … requirements that banking organizations frequently issue public bonds might augment "market discipline." …

This paper empirically examines the relation between the Treasury term structure and spreads of investment grade … corporate bond yields over Treasuries. I find that noncallable bond yield spreads fall when the level of the Treasury term …-rated bonds and large for Baa-rated bonds. The role of the business cycle in generating this pattern is explored, as is the link …