Piero Cipollone: Innovation, integration and independence: taking the Single Euro Payments Area to the next level

This paper investigates the sensitivity of the demand for safe government debt to currency unhedged and hedged excess returns in a sample of US mutual funds.

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ECBECB
URL: 
https://www.ecb.europa.eu//press/key/date/2024/html/ecb.sp240424~12ecb60e1b.en.htmlhttps://www.ecb.europa.eu//press/key/date/2024/html/ecb.sp240424~12ecb60e1b.en.html
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Jeudi, avril 25, 2024
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Reproduction, Failure, Friends, SPAA, Complementarity, Frankfurt, Travel, BIS, Sale, Nature, Market, Council, Investment, Competition, European, European Commission, Disability, USD, Statistics, Visa, Commissioner, ECB, Partnership, Payment, Risk, Policy, Communication, NFC, Apple Pay, Crowding, Safety, Privacy, IOS, Riau rupiah, Digital, SPACE, News, Private sector, Commission, Security, McGuinness, Single market, Public sector, Single Euro Payments Area, Family, Digitalization, Work, European Central Bank, Civil service commission, Opacity, Smartphone, Apple, Central bank, European Parliament, Le Parisien, PSP, BEUC, MIP, SIBS, IDEAL, Cirrus (interbank network), Online shopping
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EPI, EUROPEAN UNION, EC, EUROPE, EU, SPAIN, GERMANY, UNITED STATES
Résumé
Key Points: 
  • This paper investigates the sensitivity of the demand for safe government debt to currency unhedged and hedged excess returns in a sample of US mutual funds.
  • We find evidence of active rebalancing towards government bonds that offer relatively higher returns on an unhedged basis, in particular euro denominated securities.
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