How does uncertainty affect the costs of raising finance in the bond market and via bank loans? Empirically, this paper … finds that heightened uncertainty is accompanied by an increase in corporate bond yields and a decrease in bank lending … the value of the lending relationship and lowers the lending rate. Bond investors demand compensation for the increased …

to understand the linkage between the cheapest to deliver bond and closest futures pairs by using high-frequency data on …

a crisis-robust portfolio is especially pertinent when applied to the bond market, which offers a flight … (sovereign, investment grade corporate, and high yield corporate) in the U.S. and Eurozone for the period 1998-2007, we …

-return relations of government bond portfolios. Motivated by this finding, we derive a global stochastic discount factor, which prices … excess returns of individual bond markets and international bond portfolio strategies. The SDF is supported by standard … validation tests, but the fraction of unpriced components of bond returns is high, at around 50%. Hedging internationally …

Most current Eurobond proposals imply substantial cross-subsidisation since some countries partially pay the risk … technologies of financial intermediation like pooling and collateralizing risks. The proposed Eurobond system decreases the costs …