In their seminal paper on bond fund performance, Blake, Elton and Gruber (1993) state that survivorship bias is … unimportant for this market segment. Many bond fund studies have since been published without treating survivorship bias despite … disappearance of bond funds comprehensively. As key determinants we identify fund size and flows. Compared to equity funds, returns …

Using a comprehensive database of corporate news, we find that bond funds trade against the direction of news sentiment … such alphas is bond price reversals post news events. Our findings highlight that bond mutual funds represent a significant … liquidity provider in the corporate bond market and play a complementary role to dealers in corporate news events. …

We evaluate the performance of the US bond mutual fund industry using a comprehensive sample of bond funds over a long … time period from January 1998 to February 2017. In this one study, we examine bond fund selectivity, market timing and … performance persistence. We evaluate bond funds relative to their self-declared benchmarks and in terms of both gross …

This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of … contagion analysis using data on fund flows and returns shows that Investment Grade (IG) corporate bonds funds, municipal bond … funds and government bond funds are more likely to spread distress to other fund categories than HY, EM and loan funds. When …

We document an inverse relation between stock-bond correlations and correlations of growth and inflation. We find that … rising inflation uncertainty lowers stock prices but can either lower or raise nominal bond prices depending on whether … important drivers of stock-bond correlations during the countercyclical period 1965-2000 while output shocks dominated during …