simply repaying bank loans. Moreover, holdings of 'buy-and-hold' bond investors are large in aggregate but small for weaker …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 …

protection selling in CDS, the effect being weaker when sovereign risk is high. Bank and country risk variables are mostly not … building a complete picture and understanding fully the economic drivers of the bank-sovereign nexus of risk …