important factor contributing to the credit cycle. This paper presents a detailed study of this phenomenon in the corporate bond … of bond and issuer controls, including bond liquidity and duration, and issuer fixed effects. This behavior is related to …

frictions regarding cross-asset segmentation. We find that actively-managed equity funds and corporate bond funds linked within … accentuate the importance of collaboration between equity funds and bond funds within fund families.Institutional subscribers to …

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 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 …

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

-specific information on expected defaults and a residual component--the excess bond premium. Our results indicate that the predictive … content of credit spreads is due primarily to movements in the excess bond premium. Innovations in the excess bond premium …-dealers--key financial intermediaries in the corporate cash market--led to an increase in the excess bond premium. These find- ings support …

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 …

suggests that although bank lending to firms declines during the crisis, bond financing actually increases to make up much of …

This paper explores the effect of equity volatility on corporate bond yields. Panel data for the late 1990's show that … to explain recent increases in corporate bond yields …