Economies (EMDEs). This paper investigates the role of fiscal policies in determining domestic bond yields, and how this … deficits results in a persistent increase in 10-year domestic bond yield by around 36 basis points over 2.5 years, with larger … effects observed during the COVID-19 pandemic. This contrasts with external bond spreads which are more sensitive to external …

on external issuance at the country-industry and individual bond levels and finds that global factors matter greatly for … odds that the monthly issuance volume of a country-industry is above its historical average; (ii) decrease individual bond … yields and spreads; and (iii) raise bond maturities, after controlling for country pull factors, bond characteristics (for …