pillar is represented by such contractual provisions as Collective Action Clauses (CACs) in sovereign bonds, which aim to … support for a broader dissemination of CACs in euro-area sovereign bonds. Importantly, in the first case involving an advanced …

issuers. Nevertheless, the bond investors' sell-off after March 2020 was largely directed at bonds of larger, safer issuers …The rise of bond financing in EuropeUsing large panel data of public and private firms, this paper dissects the growth … of bond financing in the Euro Area through the lens of the cross-section of issuers. In recent years, the composition of …

We assess the degree of market fragmentation in the euro-area corporate bond market by disentangling the determinants … of the risk premium paid on bonds at origination. By looking at over 2,400 bonds we are able to isolate the country … market fragmentation is coupled with a still high heterogeneity in actual bond yields, challenging the consistency of the new …