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- Title
THE GLOBAL DASH FOR CASH: WHY SOVEREIGN BOND MARKET FUNCTIONING VARIED ACROSS JURISDICTIONS IN MARCH 2020.
- Authors
Barone, Jordan; Chaboud, Alain; Copeland, Adam; Kavoussi, Cullen; Keane, Frank; Searls, Seth
- Abstract
The article discusses that the global dash for cash amid the worsening COVID-19 pandemic led to selling pressures across advanced-economy sovereign bond markets, causing market disruptions in March 2020. The authors emphasize that these disruptions were more pronounced and broad-based in the US Treasury market due to differences in leverage dynamics, leading to a heavier buildup of leverage and catalyzing more deleveraging during the COVID-19 shock compared to other sovereign bond markets.
- Subjects
BOND market; GOVERNMENT securities; SPREAD (Finance); MUTUAL funds; INVESTORS; FUTURES; FINANCIAL leverage
- Publication
Economic Policy Review (19320426), 2023, Vol 29, Issue 3, p1
- ISSN
1932-0426
- Publication type
Article
- DOI
10.59576/epr.29.3.1-29