ABSTRACT
Recent Distress in Corporate Bond Markets: Cues from ETFs [open pdf - 0B]
From the Key Takeaways: "[1] Amid widespread sell-offs in risky asset classes, corporate bond exchange-traded funds (ETFs) traded at steep discounts to underlying asset values in March. [2] Contributing factors were high market volatility, reduced risk-taking by dealers and investors' reaction to policy decisions. [3] Policy interventions that improve market functioning in a given sector can have temporary yet important spillovers to other segments through portfolio rebalancing by investors."
Report Number: | BIS Bulletin No. 6; Bank for International Settlements No. 6 |
Author: | |
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Date: | 2020-04-14 |
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Copyright: | 2020 Bank for International Settlements |
Retrieved From: | Bank for International Settlements: https://www.bis.org/ |
Media Type: | application/pdf |
URL: |