RBA: Australian bond market weathered financial crisis very well
A paper published by the Reserve Bank of Australia on its June Quarterly Bulletin out on Thursday looks at the impact of the financial crisis on Australian bond market and shows bond spreads on average narrowed despite a decline in issuance.
The paper shows that changes in investor sentiment and issuer behaviour led to a slowing in issuance and an increase in the average credit quality of new issuance as spreads reached historical highs. However, the authors - Susan Black, Anthony Brassil and
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