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

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 …

I propose an implementation of the q-theory of investment using bond prices instead of equity prices. Credit risk makes … corporate bond prices sensitive to future asset values, and q can be inferred from bond prices. The bond market's q performs …

This paper tests several competing models of municipal bond market equilibrium. It analyzes the influence of changes in …

tax smoothing and effects of fiscal policies on bond markets …

long as default is not preferable, remain passive in long-term bond markets, making payments and retiring long-term bonds …-term bond market. We show that any attempt to manipulate the existing maturity profile of outstanding long-term bonds generates … losses, as bond prices move against the sovereign. Our results hold regardless of the shape of the yield curve. The yield …