We conduct the most extensive study of underpricing in the euro area bond market so far and find strong evidence of … crisis and has remained at an elevated level since. We also show that secondary market liquidity in the euro area bond market … and the Volcker Rule. Furthermore, our evidence suggests that the ECB’s asset purchase programs have led to a decrease in …

effects of the European Central Bank's bond purchases in the 2015-2021 period on an international panel of bond safety premia … effects for all four countries. This points to an important international spillover channel of QE programs to bond safety …

investment-grade bonds, a segment in which the share of bonds eligible to the ECB corporate programmes strikingly increased from …

segmentation along the bond grade and the eligibility to the ECB programmes, another source of risk detected in the pricing … investment- grade bonds, a segment in which the share of bonds eligible to the ECB corporate programmes strikingly increased from …