The notes in this compilation review the main features (size, structure, etc.) of sovereign bond markets in euro area Member States and discuss, in the relation to expanded asset purchase programme (EAPP) of the ECB, the financial risks the Eurosystem is potentially taking on its balance sheet...

The notes in this compilation review the main features (size, structure, etc.) of sovereign bond markets in euro area Member States and discuss, in the relation to expanded asset purchase programme (EAPP) of the ECB, the financial risks the Eurosystem is potentially taking on its balance sheet...

Recent calculations have suggested that the German federal government has saved roughly EUR 90-100 billion, cumulatively, due to low bond yields since the onset of the Euro crisis. In order to determine the contribution of the "flight to quality" to this sum, we define the flight to quality as a...