1. ZHAW digitalcollection
  2. School of Management and Law
  3. Publikationen
  4. Publikationen School of Management and Law
Full metadata record
DC FieldValueLanguage
dc.contributor.authorHillebrand, Martin-
dc.contributor.authorMravlak, Marko-
dc.contributor.authorBreitsamter, Lorenz-
dc.contributor.authorSchwendner, Peter-
dc.date.accessioned2024-07-31T14:44:32Z-
dc.date.available2024-07-31T14:44:32Z-
dc.date.issued2024-07-15-
dc.identifier.issn2443-5503de_CH
dc.identifier.urihttps://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-marketsde_CH
dc.identifier.urihttps://digitalcollection.zhaw.ch/handle/11475/31169-
dc.description.abstractThis study discusses investor and dealer behaviour in the secondary market bond trade data of the EFSF and ESM, two of the largest supranational bond issuers in the euro area in the last decade. The underlying data are reported trades from the ESM primary dealers between 2014 and 2020 and comprise most of the global trading in EFSF and ESM bonds. We discuss stylised facts and trends related to investor and dealer behaviour. We illustrate the trends of increasing fund manager activity and digitalisation, and how turnover increased in the market segment of long maturities as yields decreased. We further explain the impact of small banks in the dealer network with respect to liquidity, and we illustrate the resilience of the bond markets during the COVID-19 pandemic. We use directed network graphs to visualise the net flows between the anonymised primary dealers and types and regions of investors based on aggregations of the granular data.de_CH
dc.format.extent33de_CH
dc.language.isoende_CH
dc.publisherEuropean Stability Mechanismde_CH
dc.relation.ispartofseriesWorking Paper Seriesde_CH
dc.rightsLicence according to publishing contractde_CH
dc.subject.ddc332.6: Investitionde_CH
dc.titleInvestor Activity in EFSF/ESM secondary bond marketsde_CH
dc.typeWorking Paper – Gutachten – Studiede_CH
dcterms.typeTextde_CH
zhaw.departementSchool of Management and Lawde_CH
zhaw.organisationalunitInstitut für Wealth & Asset Management (IWA)de_CH
zhaw.publisher.placeLuxembourgde_CH
zhaw.funding.euNode_CH
zhaw.originated.zhawYesde_CH
zhaw.series.number62de_CH
zhaw.author.additionalNode_CH
zhaw.display.portraitYesde_CH
Appears in collections:Publikationen School of Management and Law

Files in This Item:
There are no files associated with this item.
Show simple item record
Hillebrand, M., Mravlak, M., Breitsamter, L., & Schwendner, P. (2024). Investor Activity in EFSF/ESM secondary bond markets. European Stability Mechanism. https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets
Hillebrand, M. et al. (2024) Investor Activity in EFSF/ESM secondary bond markets. Luxembourg: European Stability Mechanism. Available at: https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets.
M. Hillebrand, M. Mravlak, L. Breitsamter, and P. Schwendner, “Investor Activity in EFSF/ESM secondary bond markets,” European Stability Mechanism, Luxembourg, Jul. 2024. [Online]. Available: https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets
HILLEBRAND, Martin, Marko MRAVLAK, Lorenz BREITSAMTER und Peter SCHWENDNER, 2024. Investor Activity in EFSF/ESM secondary bond markets [online]. Luxembourg: European Stability Mechanism. Verfügbar unter: https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets
Hillebrand, Martin, Marko Mravlak, Lorenz Breitsamter, and Peter Schwendner. 2024. “Investor Activity in EFSF/ESM Secondary Bond Markets.” Luxembourg: European Stability Mechanism. https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets.
Hillebrand, Martin, et al. Investor Activity in EFSF/ESM Secondary Bond Markets. European Stability Mechanism, 15 July 2024, https://www.esm.europa.eu/publications/investor-activity-efsfesm-secondary-bond-markets.


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.