Template-Type: ReDIF-Paper 1.0
Author-Name: Sirio Aramonte
Author-X-Name-First: Sirio
Author-X-Name-Last: Aramonte
Author-Name: Fernando Avalos
Author-X-Name-First: Fernando
Author-X-Name-Last: Avalos
Title: The recent distress in corporate bond markets: cues from ETFs
Abstract: Amid widespread sell-offs in risky asset classes, corporate bond exchange-traded funds (ETFs) traded at steep discounts to underlying asset values in March. Contributing factors were high market volatility, reduced risk-taking by dealers and investors' reaction to policy decisions. Policy interventions that improve market functioning in a given sector can have temporary yet important spillovers to other segments through portfolio rebalancing by investors.
Length: 9 pages
Creation-Date: 2020-04-14
File-URL: https://www.bis.org/publ/bisbull06.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/bisbull06.htm
File-Format: text/html
Number: 6
Handle: RePEc:bis:bisblt:6