The yield levels and yield movements of Eurodollar rates are compared to yield level and yield movements of securities. Contrary to the previous studies, we could find no consistent and meaningful lead–lag relationship between U.S rates and Eurodollar rates. Additionally, we found that...

Previous studies have analyzed the comovement of international stock returns during periods of fixed exchange rates[11,15]. Results of these studies have indicated an increasing correlation between U.S stocks and foreign stock returns. This paper explores the weekly comovement of international...