We analyze the long-run impact of emerging-market sovereign bond yields on corporate bond yields, finding that the … bonds are more liquid. It is also greater for corporate bonds with lower ratings, shorter maturities, and for those issued …

-term bond yields. Instead, we find that larger spillovers stem more from structural factors, such as the use of new instruments …

another country, these two countries' comovement of bond yields are large. Also, countries' geographical preferences impact …

sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A … higher premium suggests less substitutability of sovereign bonds. We document a rise in the 'Bund premium' in the post …-crisis period. We show that there is a negative relationship of the premium with the relative supply of German sovereign bonds …

An analysis of mutual-fund-level flow data into EM bond and equity markets confirms that different types of funds … behave differently. Bond funds are more sensitive to global factors and engage more in return chasing than equity funds …