that subjects firms to institutions holding them accountable to their environmental promises. I find that green-bond … issuers face higher climate change risks and opportunities but fewer financial constraints than do traditional-bond issuers …. Moreover, consistent with green bonds acting as a commitment device, green-bond issuers increase emissions-target achievements …

A system is implemented that simulates a bond portfolio over the long-term of liabilities. It pays all liabilities and … of return potential and risk drivers on the bond allocation, on assumptions and on market conditions in order to improve … €10billion insurer portfolio. Current market conditions favor short bond duration, reducing government bonds and mixing in …

Using a large panel of Treasury futures and options, I construct model-free measures of bond uncertainty and tail risks … across different tenors from 2000 to 2020. I find that bond tail risk 1) negatively correlates with stock tail risk in … the 2008 Financial Crisis and in March 2020 foreshadowing the extreme challenges in the Treasury bond markets; 3) and has …

We study drift and cyclical components in U.S. Treasury bonds. We find that bond yields are drifting because they … productivity trends, plus long-term inflation expectations, leads to cyclical deviations of bond prices from their drift that … predict bond returns in- and out-of-sample. These bond cycles can originate from term premia or temporary deviations from …

bond covenants, we document that four out of 24 restrictions are associated with significantly higher bankruptcy risk. The … bankruptcy, or within-creditor conflicts. Firms that use In-House Counsel to help structure their bond issue and those that use … use of these Default Indicating covenants is associated with higher bond and CDS spreads. Overall, the results help …

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

In this paper we study empirically the implications of macroeconomic disagreement for the time variation in bond market … bond returns. Using survey data on macroeconomic forecasts of fundamentals spanning interest rates, real aggregates and … of risk so that a single factor proxy for disagreement forecasts bond returns with ℛ2 between 15%- 20%. Secondly, by …