Liquidity Pricing in Emerging Market Corporate Bonds

2019 ◽  
Author(s):  
Lennart Dekker ◽  
Frank De Jong
Keyword(s):  
Emerging Market ◽  
Corporate Bonds ◽  
Liquidity Pricing

scholarly journals Spread determinants in corporate bond pricing: The effect of market and liquidity risks

2020 ◽  
pp. 2-2
Author(s):  
Menevşe Özdemir-Dilidüzgün ◽  
Ayşe Altıok-Yılmaz ◽  
Elif Akben-Selçuk
Keyword(s):  
Risk Premium ◽  
Emerging Market ◽  
Corporate Bonds ◽  
Liquidity Risk ◽  
Market Liquidity ◽  
Corporate Bond ◽  
Bond Pricing ◽  
High Yield ◽  
Bond Liquidity ◽  
Investment Grade

This paper investigates the effect of market and liquidity risks on corporate bond pricing in Turkey, an emerging market, and in Europe. Results show that corporate bond returns have exposure to liquidity factors and not to market factors in both settings. Corporate bonds issued in Turkey have significant exposure to fluctuations in benchmark treasury bond liquidity and corporate bond market liquidity; while corporate bonds issued in Eurozone have exposure to equity market liquidity and are sensitive to fluctuations in a 10-year generic government bond liquidity. The total estimated liquidity risk premium is 0.7% per annum for Turkish ?A? and above graded corporate bonds, and 1.08% for the last investment grade level (BBB-) long term bonds. For Eurozone, the total liquidity risk premium is 0.27% for investment grade 5-10 year term bonds, 1.05% for high-yield 1-5 year term bonds and 1.02% for high-yield 5-10 year term category.

scholarly journals Binary interest rate sensitivities of emerging market corporate bonds

2017 ◽  
Vol 24 (17) ◽  
pp. 1569-1586 ◽  
Author(s):  
Mariya Gubareva ◽  
Maria Rosa Borges
Keyword(s):  
Interest Rate ◽  
Emerging Market ◽  
Corporate Bonds

Upheaval in the distribution of power in the world economy: Problems and outlook of the world economy to 2050

2017 ◽  
pp. 114-127 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Policy ◽  
International Trade ◽  
World Economy ◽  
Emerging Market ◽  
Detailed Review ◽  
Depressed State ◽  
Industry Output ◽  
The World ◽  
Distribution Of Power ◽  
The Eu

Causes of upheaval in the distribution of power among large advanced and emerging market economies in the XXI century, especially in industry output and international trade, are a topic of the paper. Problems of employment, financialization and income distribution inequality as consequences of globalization are identified as the most important. Causes of the depressed state of the EU and the eurozone are presented in a detailed review. In this content, PwC forecast of changes in the world economy by 2050, to the author’s view, optimistically provides for wise and diligent economic policy.

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