This paper examines the spillover effects of the U.S. Fed's and the European Central Bank (ECB)'s target interest rate news on the market returns and return volatilities of twelve stock markets in the Asia-Pacific region over the period 1999-2006. The news spillover effects on the returns are...

The impact of domestic and spillover macroeconomic news from the U.S., the Eurozone and China on national sovereign credit default swap (CDS) spreads and spread volatility are examined over a recent period of financial instability from November 2007 to March 2012. We find that better than...