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 …

long vs. the short maturity bond segments and show that enhanced institutional quality, higher credit quality and better …

We find that the degree and dynamics of sovereign bond market integration across 21 developed and 18 emerging countries … dissipating local risk premiums. Integration of the sovereign bond markets increases by about 10% on average, when a country moves …

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 …

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

Over the last decade foreign bond portfolio positions in US dollar assets have risen above the reciprocal US investor … bond positions, which creates a net hedging demand for dollar assets that depreciates USD rates in both the forward and … uncertainty and the US net foreign bond position in various currencies. Based on a parsimonious VAR model, we find that changes in …