We analyze the effect of the US Federal Reserve's monetary policy on EME sovereign and corporate bond markets by … focusing on two dimensions: the evolution of the structure (size and currency composition) of the bond markets and their … allocations within the bond portfolios of US investors. Global factors, particularly the level of long-term US Treasury yields …

Price-based liquidity metrics are better in 2013-2014 for small trades and large high-yield bond trades, but not for … large investment grade bond trades, relative to before the crisis, and are better for all bond types and trade sizes …-crisis liquidity could be low when markets are stressed. We consider three stress events: extreme VIX increases, extreme bond yield …

We propose a novel measure of bond market liquidity that does not depend on transaction data: the strength of the cross …

an over-the-counter secondary market with search frictions. Bargaining with dealers determines a bond's endogenous … liquidity, which depends on both the firm fundamental and the time-to-maturity of the bond. Corporate default decisions interact … endogenous default worsens a bond's secondary market liquidity, which amplifies equity holders' rollover losses, which in turn …

bonds varies predictably over time. We also find strong evidence that the spread between the nominal and the real bond risk … premium, or the break-even inflation risk premium, also varies over time. We argue that the time variation in real bond risk … the variability in the nominal bond risk premia reflects a changing inflation risk premium. We estimate significant time …

, as would be the case if the centralquot; tendency was constant. However, since longer-maturity bond prices incorporate … informationquot; about the central tendency, longer-maturity bond yields can be used to predict future short-termquot; rate movements …

follow simple time-series processes whose parameters can be estimated from the cross-section of bond prices. The extracted …

debt by encouraging bond issues to contain call features. Are the interest rate effects associated with these policies …