French economists find UMP had ‘significant’ impact on sovereign yield spreads


Unconventional monetary policies (UMP) had a "significant effect" on the spread between the 10-year sovereign bond yield and the swap rate in a number of advanced economies, according to a working paper published by the Banque de France this week.

In Determinants Of OECD countries' sovereign yields: safe havens, purgatory and the damned, Clément Bortoli, Louis Harreau and Cyril Pouvelle assess sovereign yield spreads in 22 members of the Organisation for Economic Co-operation and Development

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