scholarly journals How Did Order-Flow Impact Bond Prices During the European Sovereign Debt Crisis?

2019 ◽  
Author(s):  
Zhongguo Lin ◽  
Youwei Li ◽  
Philip Anthony Hamill ◽  
Zhuowei Sun ◽  
James Waterworth
Keyword(s):  
Sovereign Debt ◽  
Debt Crisis ◽  
Order Flow ◽  
Sovereign Debt Crisis ◽  
Bond Prices ◽  
European Sovereign Debt Crisis

scholarly journals How did order-flow impact bond prices during the European Sovereign Debt Crisis?

2020 ◽  
Vol 67 ◽  
pp. 13-24
Author(s):  
Zhongguo Lin ◽  
Philip A. Hamill ◽  
Youwei Li ◽  
Zhuowei Sun ◽  
James Waterworth
Keyword(s):  
Sovereign Debt ◽  
Debt Crisis ◽  
Order Flow ◽  
Sovereign Debt Crisis ◽  
Bond Prices ◽  
European Sovereign Debt Crisis

scholarly journals The Impact of the Introduction of Uniform European Collective Action Clauses on European Government Bonds as a Regulatory Result of the European Sovereign Debt Crisis

2020 ◽  
Vol 14 (1) ◽  
pp. 1
Author(s):  
Nicoletta Layher ◽  
Eyden Samunderu
Keyword(s):  
European Union ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
The European Union ◽  
Bond Yields ◽  
Member States ◽  
Sovereign Bond ◽  
European Sovereign Debt Crisis ◽  
Collective Action Clauses

This paper conducts an empirical study on the inclusion of uniform European Collective Action Clauses (CACs) in sovereign bond contracts issued from member states of the European Union, introduced as a regulatory result of the European sovereign debt crisis. The study focuses on the reaction of sovereign bond yields from European Union member states with the inclusion of the new regulation in the European Union. A two-stage least squares regression analysis is adopted in order to determine the extent of impact effects of CACs on member states sovereign bond yields. Evidence is found that CACs in the European Union are priced on financial markets and that sovereign bond yields do respond to the inclusion of uniform CACs in the European Union.

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