The Bond Market Responses to Female CEOS Appointment

AbstractThis paper explores a long dataset (1999-2005) of intraday prices on German long-term bond futures and examines market responses to major macroeconomic announcements and ECB monetary policy releases. German bond markets tend to react more strongly to the surprise component in US macro releases compared with aggregated and national euro area and UK releases, and the strength of those reactions to US releases has increased over the period considered. We also document that the numbers of German unemployed workers consistently have been known to investors before official releases.

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Terrorism and Trading: Differential Equity and Bond Market Responses During Violent Elections

Palgrave Studies in Sustainable Business In Association with Future Earth - Ecological, Societal, and Technological Risks and the Financial Sector ◽

10.1007/978-3-030-38858-4_7 ◽

2020 ◽

pp. 143-162

Author(s):

Allan Dwyer ◽

Tashfeen Hussain

Keyword(s):

Bond Market ◽

Market Responses

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How Did Britain Democratize? Views from the Sovereign Bond Market

The Journal of Economic History ◽

10.1017/s0022050715000017 ◽

2015 ◽

Vol 75 (1) ◽

pp. 1-29 ◽

Cited By ~ 14

Author(s):

Aditya Dasgupta ◽

Daniel Ziblatt

Keyword(s):

High Frequency ◽

Political Risk ◽

Bond Market ◽

Yield Data ◽

Social Unrest ◽

Sovereign Bond ◽

Democratic Reform ◽

Market Responses ◽

Financial Press

To assess competing theories of democratization, we analyze British sovereign bond market responses to the 1832, 1867, and 1884 Reform Acts, and to two failed Chartist agitations for reform. Analyses of high-frequency 3 percent consol yield data and historical financial press suggest three conclusions. First, democratic reform episodes were preceded by increases in perceived political risk, comparable to democratizing episodes in other countries. Second, both democratic reform and repression were followed by yield declines. Third, the source of political risk in Britain was both social unrest and political deadlock. Together, the findings challenge the “Whig” characterization of British democratization as exceptionally risk-free.

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