Outputs (2)

Monetary Policy and Corporate Bond Returns (2020)
Journal Article
Guo, H., Kontonikas, A., & Maio, P. (2020). Monetary Policy and Corporate Bond Returns. The Review of Asset Pricing Studies, 10(3), 441-489. https://doi.org/10.1093/rapstu/raaa005

We investigate the impact of monetary policy shocks on excess corporate bonds returns. We obtain a significant negative response of bond returns to policy shocks, which is especially strong among low-grading bonds. The largest portion of this respons... Read More about Monetary Policy and Corporate Bond Returns.

Investor sentiment and the pre-FOMC announcement drift (2020)
Journal Article
Guo, H., Hung, D. C.-H., & Kontonikas, A. (2021). Investor sentiment and the pre-FOMC announcement drift. Finance Research Letters, 38, Article 101443. https://doi.org/10.1016/j.frl.2020.101443

We find that the stock market increases significantly over the pre-FOMC announcement window only during periods of high investor sentiment and low economic policy uncertainty. Buy-initiated trades associated with high sentiment are positively related... Read More about Investor sentiment and the pre-FOMC announcement drift.