The market for credit derivatives, or financial contracts whose payoffs are linked to changes in the credit quality of a reference asset, has expanded dramatically in recent years. According to the 2002 Credit Derivatives Report of the British Bankers' Association, the credit derivatives market...

The covered bond market offers investors an alternative to developed country government securities. The valuation of covered bonds is complex. While there is some evidence of differences in the pricing of these bonds by nationality of issuer, these appear to be only weakly related to differences...

In traditional bond markets, sovereign bonds provide benchmarks and serve as catalysts for the corporate bond market development. Contrary to the usual sequence of bond market development, sovereign issuers are latecomers to sustainable bond markets. Yet, our empirical study finds that sovereign...