Global or regional safe assets: Evidence from bond substitution patterns

Global or regional safe assets: Evidence from bond substitution patterns

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Global or regional safe assets: Evidence from bond substitution patterns

BIS Working Papers | No 1254 | 03 April 2025by Tsvetelina NenovaPDF full text (1,719kb) | 128 pagesSummaryFocusAn important channel of monetary policy transmission both domestically and internationally is through the portfolio rebalancing of international investors between safe and riskier assets.

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