Economic research bond markets 2010

LOCAL CURRENCY BOND MARKETS - NATIONAL BUREAU OF ECONOMIC RESEARCH doc

... domestic bonds (those that are in the local currency and placed initially in the local market) International Bonds Total Bonds Outstanding Total local- currency- denominated % of total % of GDP % ... regression estimates of Local Bond Market Development (the size of the total local currency bond market over GDP) and Local Share (the ratio of local currency bonds to total bonds) The explanatory ... component of BIS Table 16A (Domestic Debt Securities) Local- currency- denominated debt is the sum of domestic long-term debt (from Table 16A) and the local currency portion of Table 14B Domestic long-term...

motianey - super cycles; the new economic force transforming global markets (2010)

... without the prior written permission of the publisher ISBN: 97 8-0 -0 7-1 6373 8-1 MHID: 0-0 7-1 6373 8-9 The material in this eBook also appears in the print version of this title: ISBN: 97 8-0 -0 7-1 6373 7-4 , ... approximates the world described in the NEE If the “real” world is different from the world described by the theory, then the theory claims it is still valid In other words, the world must conform to the ... deadweight on the balance sheet of households in the goods-using (rather than goods-producing) economies This is the essence of the SuperCycle—a generation-long price swing that drives the world...

Tài liệu Developing Regional Bond Markets In East Asia: The Way Forward ppt

... investors in East Asia? - How could these markets be Developing regional bond markets in East organized? Would they emerge in Asia enhances global financial stability the course of economic integration ... currencies Developing bond markets in alternatives to regional bond markets for the regional level as well as the domestic cross-border bond financing The global level reduces over-reliance on bank financial ... Building the Institutional Foundation for Regional Bond Market in East Asia Ito, Takatoshi, The ABC of ABC bonds” Park, Yung-Chul and Daekeun Park, “Creating Regional Bond Markets in East Asia:...

Tài liệu Bond markets and banks in emerging economies docx

... very low interest on many accounts 3.1 Banks as users of bond markets Banks as purchasers of bonds In some economies, banks are major holders of corporate bonds For example, in Indonesia banks hold ... virtue of making banks more subject to market discipline Banks specialising in longer-term lending will tend to issue long-term bonds to lock in funding 3.3 Banks as securitisers Where bond markets ... holding company, may help in this 3.2 Banks as issuers of bonds Banks use bond markets to supplement deposits as a source of funds Indeed, in many cases (eg Brazil, China, Germany, India, Indonesia,...

Tài liệu Latin America’s local currency bond markets: an overview ppt

... correlations since January 2003 of Latin American local currency bonds with: (a) Asian and European emerging market local currency bonds (0.48 and 0.30, respectively); (b) the foreign currency EMBI ... (0.52); and (c) 10-year US Treasury notes (0.18) This last set of correlations has been lower for Latin American local currency bonds than the corresponding sets for Asian and European local currency ... Global government bonds in local currency: an overview Several Latin American countries, both at the government and corporate levels, have issued global bonds denominated in local currency during...

Tài liệu Understanding Ináation-Indexed Bond Markets docx

... ation-indexed bonds are valuable hedges); and di¤erences in expected returns on long-term and short-term bonds caused by liquidity premia or technical factors that segment the bond markets The ... History of In‡ ation-Indexed Bond Markets In this section we summarize graphically the history of two of the largest and best established in‡ ation-indexed bond markets, the US TIPS market and ... in‡ ation-indexed bond returns not invalidate the basic case for these bonds, that they provide a safe asset for long-term investors Governments should expect in‡ ation-indexed bonds to be a relatively...

Tài liệu Databases from socio-economic research projects for policymaking pdf

... denis.besnainou@ec.europa.eu EUROPEAN COMMISSION Databases from Socio-economic research projects for policymaking 2011 Directorate-General for Research and Innovation Socio-economic Sciences and Humanities ... chlorine-free bleached paper (TCF) Databases from socio-economic research projects for policymaking Preface The European research funded by the Framework Programmes (FP) under the Socio-economic Sciences ... useful for the policy makers when they define, assess and monitor their policies And finally this publication should be useful for the researchers and for the Research Infrastructures Databases from...

Global Economic Research - Global Forecast Update potx

... 2.1 -4 .3 3.2 2.6 -4 .4 1.1 3.8 -2 .1 -3 .6 0.5 2.6 -3 .9 1.2 3.2 -2 .4 -3 .7 1.1 2.7 -3 .6 1.5 3.2 -2 .3 -3 .2 1.4 Brazil Colombia Peru Chile -1 .0 -1 .7 -1 .0 0.6 -3 .3 -3 .0 -3 .8 -3 .0 -3 .4 -3 .1 -3 .9 -3 .7 ... 0.4 -4 .4 -1 .2 -3 .9 -3 .0 -1 .0 -3 .3 -2 .6 -1 .4 -2 .5 -2 .6 -1 .8 United Kingdom Euro zone Germany France Italy Spain Greece Portugal Ireland Russia -2 .1 -0 .2 3.9 -0 .2 -1 .4 -5 .7 -8 .8 -9 .6 -1 .7 8.6 -3 .2 ... 5.6 -2 .2 -1 .9 -2 .1 -6 .1 -2 .5 1.7 4.5 -2 .3 0.4 5.3 -1 .9 -1 .4 -1 .0 -4 .2 -1 .5 2.5 3.8 -1 .8 0.5 5.1 -1 .6 -1 .1 -0 .7 -3 .2 -1 .1 3.2 2.4 China India Japan South Korea Indonesia Australia T hailand 4.7 -1 .0...

Understanding Inﬂation-Indexed Bond Markets pot

... relate the risk premiums on inflation-indexed bonds to the covariance of these bonds with stock returns To capture the time-varying correlation of returns on inflation-indexed bonds with stock returns, ... negative if these bonds are valuable hedges); and differences in expected returns on long-term and short-term bonds caused by liquidity premiums or technical factors that segment the bond markets The ... risk premiums in greater detail II Inflation-Indexed Bond Yields and the Dynamics of Short-Term Real Interest Rates To understand the movements of inflation-indexed bond yields, it is essential first...

TOWARDS A GENERAL THEORY OF BOND MARKETS pptx

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The Sterling Bond Markets and Low Carbon or Green Bonds - A report to E3G ppt

... because of its flexibility (the markets are above country markets and regulation and therefore lack national barriers to entry and are subject to less political risk), the Euromarkets, and in the UK’s case the EuroSterling market, continue to grow and be the market of choice for issuance. ... crises, political unrest and defaults. 13 ‘Bells and whistles’ could include call options, put options, odd coupon payments all of which can be complex to understand and can therefore be a disincentive to ownership. Demand for these types of bonds ... months the size of the non‐gilt market has fallen, mainly due to significant maturing bonds, slower growth and deleveraging. Figure 2: Total value of the UK bond market end February 2010 Sizes and proportions of UK Gilt and EuroSterling Market and proportions 100% 800 ...

Bond Markets in Serbia: regulatory challenges for an efficient market potx

... 20 Regulatory Environment for Bond Trading and Related Institutions Bond Markets in Serbia Regulation and Bond Trading in Practice 4.1 Bond Trading: BSE and OTC An important step in developing ... Bond Markets in Serbia Bond Markets in Serbia: regulatory challenges for an efficient market © Jefferson Institute 2005 Published by: Jefferson Institute Stevana Sremca 11 000 ... disputes, and arbitrage Decisions made by arbitrage are final and binding for the disputing parties Regulatory Environment for Bond Trading and Related Institutions 11 Bond Markets in Serbia...

HOW DO BANKS SET INTEREST RATES? NATIONAL BUREAU OF ECONOMIC RESEARCH pptx

... How Do Banks Set Interest Rates? Leonardo Gambacorta NBER Working Paper No 10295 February 2004 JEL No E44, E51, E52 ABSTRACT The aim of this paper is to study cross-sectional differences in banks ... coefficient of variation in each year of monthly figures In contrast, the series that capture the variability across banks shows the coefficient of variation of annual averages of bankspecific interest ... market interest rates to the interest rate on loans does not depend upon market price variations that influence the value of collateral Nearly half of banks business is done at this rate Both interest...

THE KYSER CENTER FOR ECONOMIC RESEARCH 2012-2013 ECONOMIC FORECAST AND INDUSTRY OUTLOOK pdf

... Board; forecasts by LAEDC LAEDC Kyser Center for Economic Research 13 Economic Forecast, February 2012 Outlook for the International Economy III OUTLOOK FOR THE INTERNATIONAL ECONOMY Global Economic ... State/Local Government Spending LAEDC Kyser Center for Economic Research Economic Forecast, February 2012 Outlook for the U.S Economy II OUTLOOK FOR THE U.S ECONOMY U.S Economic Growth Annual % Change ... variety of industry focused and regional analysis, and our Economic Forecast report, produced by the Kyser Center for Economic Research, has been ranked #1 by the Wall Street Journal Economic and Policy...

Corporate bond markets in Asia doc

... issuers in Asian corporate bond markets is the composition of the HSBC Asian Local Bond Index (ALBI) The index is designed to track the performance of liquid local currency bonds in China, Hong ... December 2005 Table 87 Secondary markets Liquidity in corporate bond markets Before considering the problems of liquidity in the Asian markets, it is worth keeping in mind that even a large market ... secondary markets for local currency corporate bonds in Asia have also lagged behind their government bond counterparts While in the last few years government bond markets and in some cases swap markets...

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