What is it about?
The paper presents a comprehensive analysis on China's Corporate Bond Market highlighting a interesting puzzle where corporate bond yield spreads move reversely with aggregate credit risk measures.
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Why is it important?
China's Corporate Bond market is becoming globally important.
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This page is a summary of: Counter-Credit-Risk Yield Spreads: A Puzzle in China's Corporate Bond Market, International Review of Finance, March 2016, Wiley,
DOI: 10.1111/irfi.12079.
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