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The Impact of the Financial Crisis on the Bond Market


  • Susan Black

    (Reserve Bank of Australia)

  • Anthony Brassil

    (Reserve Bank of Australia)

  • Mark Hack

    (Reserve Bank of Australia)


The Australian bond market functioned well during the financial crisis. Changes in investor sentiment and issuer behaviour led to a slowing in issuance and an increase in the average credit quality of new issuance. While the average bond term shortened and spreads widened, these trends have since reversed somewhat as market conditions have improved.

Suggested Citation

  • Susan Black & Anthony Brassil & Mark Hack, 2010. "The Impact of the Financial Crisis on the Bond Market," RBA Bulletin, Reserve Bank of Australia, pages 55-62, June.
  • Handle: RePEc:rba:rbabul:jun2010-08

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    References listed on IDEAS

    1. Susan Black & Anthony Brassil & Mark Hack, 2010. "Recent Trends in Australian Banks' Bond Issuance," RBA Bulletin, Reserve Bank of Australia, pages 27-33, March.
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    Cited by:

    1. Peter Gallagher & Jon Gauntlett & David Sunner, 2010. "Real-time Gross Settlement in Australia," RBA Bulletin, Reserve Bank of Australia, pages 61-69, September.
    2. Crystal Ossolinski & Andrew Zurawski, 2010. "The Financial Crisis through the Lens of Foreign Exchange Swap Markets," RBA Bulletin, Reserve Bank of Australia, pages 47-53, June.

    More about this item


    bond issuance; financial crisis; bond spreads;


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