Policymakers fear the potentially destabilizing impact of fickle global investors on emerging markets. Euro area … currency denomination and issuer-level risk factors. First, euro area investors exhibit a strong home currency bias that … manifests itself both as a cross-sectional preference and in the form of relatively stable flows to Euro-denominated bonds over …

eurozone sovereign quanto spreads, i.e., di erences in credit default swap (CDS) premiums denominated in U.S. dollar and Euro …