Issuer quality forecasts excess corporate bond returns
{"Image DocumentName": "Issuer quality forecasts excess corporate bond returns", "Image ImageDescription": "Introduction Empirical Strategy Issuer Quality Forecasting Results Interpretation Summary. Issuer quality forecasts excess corporate bond returns. Figure 3, Panel A: Economic magnitudes are significant: 1-s increase in ISSEDF (0.48 deciles) \u2192 cumulative excess returns fall by 7.30 %-points over the following 2 years. Same results hold with HYS (Figure 3, Panel B)", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}