, which is more pronounced for higher maturities and when risk aversion proxied by bond market volatility is high. Going …

interest-rate derivative markets, and their use by governments. Their stabilizing properties imply that, when bond prices fall …

interest rates. While bond yields are not fully efficient?reflecting regulation, liquidity, and segmentation?we find they …: changes in PBC rates influence the structure of Treasury, financial, and corporate bond yield curves, which are then …

fundamentals and/or external variables-have contributed to the surge in external bond issuance by these LICs, which we refer to in … our paper as 'frontier economies'. Using data on public and publicly guaranteed (PPG) external bond issuance, outstanding … PPG bond stock, as well as sovereign spreads, we employ panel data analysis to examine factors related to the increase in …

The paper reviews the historical experience of developing countries with bond issues in international markets in order … to put the recent wave of bond financing by these countries in some perspective. It examines developments in the early … part of this century and during the mid-1970s and early 1980s. The sources and the role played by bond financing during …

This paper examines equilibrium price relationships and price discovery between credit defaul swap (CDS), bond, and … equity markets for emerging market sovereign issuers. Findings suggest that CDS and bond spreads converge despite various … bond and CDS markets and the equity markets. As for price discovery, our results are mixed. This stands in contrast to the …

We estimate sovereign bond spreads of 28 emerging economies over the period January 1998-December 2011 and test the … ability of the model in generating accurate in-sample predictions for emerging economies bond spreads. The impact and … significance of country-specific and global explanatory variables on bond spreads varies across regions, as well as economic …