Basket Weaving: The Euromarket Experience with Basket Currency Bonds

14 Pages Posted: 5 Jun 2012

See all articles by Clifford Robert Dammers

Clifford Robert Dammers

affiliation not provided to SSRN

Robert N. McCauley

Bank for International Settlements (BIS)

Date Written: March 1, 2006

Abstract

ECU-denominated international bonds owed much of their limited success in the 1980s and 1990s to restrictions on the internationalisation of the Deutsche mark and to speculative investment, rather than simply to the benefits of diversification. Basket bond issuance may come at the cost of a less liquid domestic bond market.

JEL Classification: E42, E58, F02, F31, F33, F36, G15

Suggested Citation

Dammers, Clifford Robert and McCauley, Robert N., Basket Weaving: The Euromarket Experience with Basket Currency Bonds (March 1, 2006). BIS Quarterly Review, March 2006. Available at SSRN: https://ssrn.com/abstract=1632445

Clifford Robert Dammers

affiliation not provided to SSRN ( email )

Robert N. McCauley (Contact Author)

Bank for International Settlements (BIS) ( email )

CH-4002 Basel, Basel-Stadt
Switzerland

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