Forecast Factors of Price Changes For High-Yield Bonds

Student: Lazurina Galina

Educational Programme: Financial Engineering (Master)

Final Grade: 9

Year of Graduation: 2020

In this work, the author tried to identify and consider the factors that influence the abnormal behavior of the price when placing the issue and the initial trading period. Compare the factors influencing the change in the price of high-yield bonds with investment-grade bonds. Analyze the behavior of the high-yield bonds market during the COVID-19 pandemic of 2019-2020 and compare with the behavior of corporate bonds of the investment rating and identify similar features. As a result of the research, a number of hypotheses are put forward that are tested by constructing multifactor models.

Full text (added May 25, 2020)

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