Trends and Policy Issues in Corporate Bond Markets
This report provides a comprehensive overview of developments in corporate bond markets leading up to the COVID-19 outbreak. Through a detailed mapping of developments during the first half of 2020, it also provides a unique real time account of the short-term functioning of the corporate bond market during the initial stages of crisis and the factors that influenced market behavior. Particular focus is put on the impact on bond issuers of different types and sizes. The empirical findings and the related analysis in this report will form the foundation for future work that will address reforms and good practices that can improve the conditions for smaller growth companies that currently are facing structural difficulties in accessing market-based financing. The publication is written by Serdar Çelik, Gül Demirtaş and Mats Isaksson.