ten-year bond returns for the period July 1992 to June 1998 and the effects that such a relationship has on portfolio … been paid to the transmission of currency-based bond returns across national boundaries. The findings in this thesis are … important because evidence is provided that suggests the benefits of international bond diversification are limited. The …

firms in emerging economies choose among the different international bond markets: global, US144A and Eurobond markets. By … credit quality, less ability to absorb flotation costs and more informational asymmetries issue debt in US144A and Eurobond … markets, where regulation is lighter and information is less public. On the contrary, firms issuing global bonds – subject to …