The US Bond Market before 1926: Investor Total Return from 1793, Comparing Federal, Municipal and Corporate Bonds Part II: 1857 to 1926

Bond market plays a vital role in economic development of a country. Bond market provides long term finance to issuers by creating alternative source of finance through stock market, besides providing stable source of income to investors against volatile stock market. However, Bangladesh corporate Bond market is at very initial stage. Hence, it is needed to make an analysis of investors attitude towards corporate bonds in Bangladesh for determining investors finding on the issue. The study is limited to performance evaluation of three corporate bonds in corporate bond market in Bangladesh and investigate investors attitude towards it. We have collected secondary information from DSE web site and processed through SPSS to make performance analysis and collected primary data from investors of some brokerage houses in Chittagong metro through questionnaire survey for analyzing investors attitude towards corporate bond market. The study has found that price stability of ACI zero coupon bond is more than IBBL Perpetual Mudaraba Bond and BRAC subordinated convertible bond and it is also found that only 5% of respondents prefers to invest in corporate bonds due to lack of supply of corporate bond, lack of investors awareness, inadequate market regulations etc.IIUC Studies Vol.10 & 11 December 2014: 127-144

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Essays in applied economics

10.32469/10355/69988 ◽

2019 ◽

Author(s):

◽

Rebecca L. Whitworth

Keyword(s):

Panel Data ◽

Overlapping Generations ◽

Value Added ◽

Bond Market ◽

Applied Economics ◽

Corporate Debt ◽

Overlapping Generations Model ◽

Fiat Money ◽

The Us ◽

Value Added Modeling

This dissertation examines several themes in applied economics. Specifically, Essay 1 examines the dynamics in an overlapping generations model with three-period lived agents, fiat money, and credit, Essay 2 reviews literature on value-added modeling and discusses a paper previously published, Essay 3 concludes by examining efficiency in the US bond market. While Essay 1 examines dynamics and 2 reviews tools used in estimating panel data, Essay 3 combines elements of both-empirically evaluating the efficiency of the bond market by looking at the movement of prices through time. That is, deriving the integral over t of the bond spread. While opportunities for more work exists, this paper suggests that the US Bond Market (the market for corporate debt) is informationally efficient, though it takes longer to converge than previously reported in the literature.

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The US Municipal Bond Market

The Bond & Money Markets ◽

10.1016/b978-075064677-2.50029-2 ◽

2001 ◽

pp. 427-433

Author(s):

Moorad Choudhry

Keyword(s):

Bond Market ◽

Municipal Bond ◽

The Us

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Pricing Effectiveness on the Russian Corporate Bond Market

Moscow University Economics Bulletin ◽

10.38050/01300105201741 ◽

2017 ◽

Vol 2017 (4) ◽

pp. 3-28

Author(s):

Tamara Teplova ◽

Darya Budanova

Keyword(s):

Corporate Bonds ◽

Total Sample ◽

Bond Market ◽

Corporate Bond ◽

Return Periods ◽

Corporate Bond Market ◽

Reversal Effect ◽

Strategy Design ◽

Selection Of

In this paper, the question of price anomaly’s existence in the ruble bond market is considered. The construction of the profitable investment (trade) strategy on the relatively best and relatively worst corporate bonds that are ranged by the historical return allows to reveal the anomaly. The testing is conducted at the total sample (303 bonds of Russian issuers) and the sub-sample (25 liquid bonds of Russian issuers). The results that include the selection of the trade strategy’s design (the analysis of more than 6 thousand combinations of historical return periods investment periods and the percentiles of the best and worst portfolios) allow to detect the reversal effect (when the profitable strategy includes investing in to former losers who have demonstrated the lowest historical return). The investments in former winners also may be profitable, but the parameters of the strategy design become crucial to reach this effect. The result above justifies the fact that Russian corporate bond market is overestimated, the bond demand is higher that the bond supply that leads to the anomaly in the dynamics of the return, when the investment in losers makes it possible to get profit.

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