sensitivities to standard risk factors over the sample period from 2007 to 2014. By contrast, comparable bonds (same currency … denomination and credit rating category) issued by foreign entities did not offer significant risk-adjusted returns and exhibited … markedly different sensitivities to Swiss and global risk factors. However, the positive risk-adjusted returns on Swiss bonds …

assessing long-term risk as suggested by Warren Buffett; that is, with the probability of losing purchasing power. If risk is …

This paper examines the macro-spanning hypothesis for bond returns in international markets. Based on a large panel of … bond returns unspanned by yield factors.Furthermore, we estimate macro-finance term structure models (MTSMs) with the …-movements in forward term premia in global bond markets …