Empirically testing a bond portfolio hedging model is usually carried out when proposing a new model or to compare …

I provide evidence that risks in macroeconomic fundamentals contain valuable information about bond risk premia. I … account for up to 31% of the variation in excess bond returns. The main predictor factors are associated with point … unemployment rate. In addition, factors provide information about bond risk premia variation that is largely unrelated to that …

denomination and credit rating category) issued by foreign entities did not offer significant risk-adjusted returns and exhibited … disappear when controlling for measures of uncertainty such as stock price volatility. Swiss bond prices rose when stock market …