This paper documents a high and increasing capital concentration in the bond fund industry over the past three decades …. Large funds deliver better performance and receive larger inflows than small funds, which explains the concentration of bond … PIMCO in 2014, we show that bond return volatility increases (decreases) with trading fund size when the aggregate market …

data from 26 countries, the yield spread between 30-year and 10-year government bond yields is negatively related to the … destabilizing impact on bond markets that reverses once rules are changed …

We document significant outperformance by government bond funds on important macro announcement days such as FOMC and …

This paper investigates whether bond fund managers with credit rating experience outperform their peers. We document … that bond fund managers who previously worked in credit rat- ing agencies on average create higher risk-adjusted returns …