. Instead, our results are in line with the hypothesis that a lower trading volume reduces liquidity, and thereby market quality …

speculative trading increases. As a result, market liquidity deteriorates and short-term volatility rises. Our findings hold for a …

goes down, trading activity on the cash market declines, liquidity evaporates, and transaction prices deviate from … liquidity provision is a one-way street, and outages on the US and euro area futures market barely affect each other, in stark …, they support cross-asset learning models to explain the link between liquidity and arbitrage, and they demonstrate how …

factors and liquidity. Our analysis confirms the existence of a long-run relationship between the two markets, and the … CDS markets becoming more sensitive to systematic risk while cash bond markets priced in more information about liquidity …

sample period. Main refinancing operations with the open market are associated with active liquidity re-allocation, little …