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COVID-19 and bond market liquidity: alert, isolation and recovery

Jean-Sebastien Fontaine (), Hayden Ford and Adrian Walton

No 2020-14, Staff Analytical Notes from Bank of Canada

Abstract: The disruption due to COVID-19 reverberated through the bond markets in three phases. In the first phase, dealers met the rising demand for liquidity. In the second, dealers reduced the supply of liquidity, and trading conditions worsened significantly. Finally, the market returned to relative stability following several interventions by the Bank of Canada.

Keywords: Financial markets; Monetary policy (search for similar items in EconPapers)
JEL-codes: E4 (search for similar items in EconPapers)
Date: 2020-07
New Economics Papers: this item is included in nep-mac and nep-mst
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