The model of Foster-Viswanathan (1990, FV) predicts that information heterogeneity among market participants generates patterns in volume, trading costs and volatility. In the Italian Treasury bond market, periodic information asymmetry is related to the arrival of block orders from...

The model of Foster-Viswanathan (1990, FV) predicts that information heterogeneity among market participants generates patterns in volume, trading costs and volatility. In the Italian Treasury bond market, periodic information asymmetry is related to the arrival of block orders from...

I examine causality and efficiency in the Italian Treasury bond market, where cash trades take place on the domestic Mercato dei Titoli di Stato, while futures trading is based on the London International Financial Futures Exchange. I find evidence that causality in prices runs in both...

I examine causality and efficiency in the Italian Treasury bond market, where cash trades take place on the domestic Mercato dei Titoli di Stato, while futures trading is based on the London International Financial Futures Exchange. I find evidence that causality in prices runs in both...