Corporate bond returns in the major developed economies increase with risk, as measured by maturity and ratings. From a …

such as interest rates, (expected) inflation, output growth and dividend payouts. We also view risk aversion, and …

such as interest rates, (expected) inflation, output growth and dividend payouts. We also view risk aversion, and …

Corporate bond returns in the major developed economies increase with risk, as measured by maturity and ratings. From a …

Little is known about the location of bank risk, i.e., which investors in which countries hold bank-issued securities … like bonds and stocks. In this paper, we analyze the (re-)distribution of bank risk across asset classes (short- and long … contains information on securities holdings at the ISIN level. Our main findings are as follows. First, bank risk is held …