DEFAULTED BOND RETURNS BY SENIORITY CLASS - Analysis of data has indicated that the customary relationship between risk and reward was inverted in the market for defaulted bonds during the period January 1980-July 1992. The less risky senior issues produced higher returns than the riskier subordinated issues. An update of the analysis for August 1994 through March 2000 shows that the anomaly ...
| Year of publication: |
2002
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|---|---|
| Authors: | Fridson, Martin S. ; Gao, Yan |
| Published in: |
The journal of fixed income. - New York, NY : Inst. Investor, Inc., ISSN 1059-8596, ZDB-ID 11161036. - Vol. 12.2002, 2, p. 50-57
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