delivered bond's face value. This paper addresses the implications of the difference between bond and CDS spreads and shows the … recovery rates from CDS and bond markets, using data from Brazil's distress in 2002-03. Results are related to the observation … that preemptive restructurings are now more common than straight defaults in sovereign bond markets and that this leads to …

The rapid mortgage credit growth experienced in recent years in mature and emerging countries has raised some stability … mortgage covered bonds. From the issuer's perspective, these instruments have become an attractive funding source and a tool … very liquid market. In this paper, we examine the two largest "jumbo" covered bond markets, Germany and Spain. We show how …

This technical note presents a comparative analysis of the Danish Mortgage Market. It discusses the particularities of … the regulatory framework of the Danish mortgage system. The note compares and contrasts mortgage financing in Denmark and … evolutions, which could have potentially far-reaching consequences for the Danish mortgage system, are elaborated. The note also …

bond. This reflects the combined effect of the 1980s debt crisis and much higher returns during 1989-2000. Annual returns …

This paper examines a range of issues relating to bond markets in the ASEAN5 (Indonesia, Malaysia, Philippines … wider money and bond markets; and suggests some lessons from the recent crisis in developed country financial markets which …

This study explores the determinants of corporate bond spreads in emerging markets economies. Using a largely … unexploited dataset, the paper finds that corporate bond spreads are determined by firm-specific variables, bond characteristics …

activity; (iii) a positive shock to the corporate bond spread lowers industrial output; and (iv) risk indicators for the …