African bond markets have been steadily growing in recent years, but nonetheless remain undeveloped. African countries … corporate bond markets in Africa. It then applies an econometric model to analyze the key determinants of African government … securities market and corporate bond market capitalization. Government securities market capitalization is directly related to …

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 …

institutions and macro fundamentals create an enabling environment for bond market development. During the recent boom episode …, however, global cyclical factors accounted for most of the variation of bond shares in total corporate debt. The sensitivity … to global factors appears to vary with relative bond market size - which we interpret to be associated with liquidity and …

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 …

. Earlier in the crisis, the increase in market-implied contagion led to higher Asian sovereign bond yield spreads over swaps …

sovereign bonds during 32 crises since 1998, taking into account losses from bond exchanges as wellas profits before and after …Sovereign debt restructurings are perceived as inflicting large losses to bondholders.However, many bonds feature high … significantly lower than the return on bonds in crises without restructuring. Returns differ considerably depending on the …

Foreign holdings of emerging markets (EMs) government bonds have increased substantially over the last decade. While … foreign participation in local-currency sovereign bond markets provides an additional source of financing and reduces …-currency sovereign bond markets by increasing yield volatility and, beyond a certain threshold, amplify these spillovers. These estimates …

Foreign holdings of Malaysian local currency (LCY) government bonds have increased since the global financial crisis … government bonds including their investor base. The data suggest that to gain exposure to the Malaysian credit, holding cash … bonds is generally only one part of the strategy of foreign investors and in many cases FX derivatives are involved. The …

The paper investigates the international integration of EM sovereign dollar-denominatedand local-currency bond markets …. Factor analysis is used to examine movements insovereign bond yields and common sources of yield variation. The results … local currency bond markets are notas internationally integrated, and three common factors explain about 74 percent of …