The effective functioning of the municipal bond market is crucial for the provision of public services, as it is the …

that the default risk reduction associated with issuance crucially depends on the CoCo bond's design features: Only CoCo … bond designs with permanent write-down features provide a default risk reduction similar to equity. CoCo bonds with equity …

we label Convergence Gap (CG), contains information that is valuable for bond predictability. Adding CG in forecasting … regressions of bond excess returns significantly raises the R-squared, and restores countercyclical variation in bond risk premia … the path of rates, our factor has predictive ability for real bond excess returns. The importance of the gap remains …

We document an inverse relation between stock-bond correlations and correlations of growth and inflation. We find that … rising inflation uncertainty lowers stock prices but can either lower or raise nominal bond prices depending on whether … important drivers of stock-bond correlations during the countercyclical period 1965-2000 while output shocks dominated during …

Many bond portfolio managers argue that bond laddering tends to outperform other bond investment strategies because it … reduces both market price risk and reinvestment risk for a bond portfolio in the presence of interest rate uncertainty …. Despite the popularity of bond ladders as a strategy for managing investments in fixed-income securities, there is surprising …

principles. Empirically, we show that four factors explain the discount bond excess return curve and term structure premium. Cash …

We document the existence of a premium in the green bond market based on the greenness of green bonds. Using BERT, a … 10 percent increase in the bond’s greenness corresponds to a decrease in annualized yield by between 4.86 to 8.71 basis … points. In addition to greener bonds enjoying higher premiums, we find evidence that issuing a green bond has positive …