Higher EU corporate bond spreads in 2018 unrelated to ECB policy – research
Global trade disputes played a bigger role than the end of the European asset purchase programme
The increased spreads in European corporate bonds in 2018 were linked to international risk factors, rather than to the end of the European Central Bank bond purchase programme, says research published today (April 23).
In a study published by the ECB, Lena Boneva, Gregory Kidd and Ine Van Robays analyse the main factors behind higher spreads in the European corporate bond market in 2018. They conclude “the source of this was most likely a rise in macroeconomic and political uncertainty
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