Tariff War Shock and the Convenience Yield of US Treasuries — A Hedging Perspective
收藏NBER2026-01-01 更新2026-01-10 收录
下载链接：
https://www.nber.org/papers/w34640
下载链接
链接失效反馈官方服务：
资源简介：
We explain how the Tariff War shock of April 2025 affected the safe-asset status of US Treasuries. Convenience yield erosion for long bonds is consistent with a reduction in the hedging property, reflected in a rising stock-bond covariance. Decomposing the Treasury yield into risk-free rate, credit
提供机构：
美国国家经济研究局
创建时间：
2026-01-01
