2nd June
Tuesday
12.00
Registration
12.30
Welcome and Lunch
13.30
OPENING REMARKS
Pierre Gramegna, Managing Director, European Stability Mechanism
Patrick Augustin, McGill University
13.45
Session 1: GLOBAL FINANCIAL TRENDS
Session Chair: Paolo Pasquariello, Ross School of Business, University of Michigan
A Model of U.S. Monetary Policy and the Global Financial Cycle
by Moritz Lenel, Princeton University & NBER (joint with Rohan Kekre)
Discussant: Wenhao Li, USC & NBER
The US Treasury’s Biggest Short: Duration in the Shadows
by Stefano Pegoraro, University of Notre Dame (joint with Ljubica Georgievska, and Anthony Saunders)
Discussant: Emanuel Mönch, Frankfurt School of Finance & Management
Unconventional Monetary Policy Spillovers and the (In)convenience of Treasuries
by Karlye Dilts Stedman, Federal Reserve Bank of Kansas City (joint with Andrew Hanson)
Discussant: Matthias Gnewuch, European Stability Mechanism
16.00
Coffee Break
16.15
Session 2: THE PLUMBING OF GLOBAL DEBT MARKETS
Session Chair: Loriana Pelizzon, Leibniz Institute for Financial Research SAFE
Repo and FX Swap: A Tale of Two Markets
by Georg Strasser, European Central Bank (joint with Wenxin Du, and Adrien Verdelhan)
Discussant: Karen Lewis, University of Pennsylvania
Collateral Demand in Wholesale Funding Markets
by Patrick Coen, Warwick Business School (joint with Jamie Coen, and Anne-Caroline Hüser)
Discussant: Hannah Winterberg, University of Cologne
Overpriced Treasury Auctions
by José Afonso Faias, Universidade Católica Portuguesa (joint with José Miguel Cardoso-Costa, Patrick M. Herb, and Mark Wu)
Discussant: Sven Klingler, Frankfurt School of Finance & Management
18.30
END OF WORKS
20.00
Reception and Dinner (by invitation only)
Sponsored by
3rd June
Wednesday
08.15
Welcome Coffee
08.45
Session 3: THE POLITICS OF SOVEREIGN BOND MARKETS
Session Chair: Patrick Augustin, McGill University
Autocracies, Infrastructure Financing, and Credit Spreads
by Ron Giammarino, University of British Columbia (joint with Isha Agarwal, Alberto Teguia, and Emmanuel Yimfor)
Discussant: Mariano Massimiliano Croce, Bocconi University
A European Safe Asset? Not Without the Investors
by Giovanni Bonfanti, Columbia University (joint with Juri Marcucci)
Discussant: Davide Tomio, Texas A&M University
Capital Inflow Shocks and Convenience Yields
by Noam Ben-Ze’ev, Bank of Israel and Ben-Gurion University of the Negev (joint with Nadav Ben Zeev, and Daniel Nathan)
Discussant: Stefano Corradin, European Central Bank
11.00
Coffee Break
11.15
Panel Discussion: SOVEREIGN BOND MARKETS IN GEOPOLITICAL STORMS
Moderator: Marti Subrahmanyam, NYU Stern School of Business
Panellists:
Arnaud Delestienne, Chief Commercial Officer, Luxembourg Stock Exchange
Rolf Strauch, Chief Economist European Stability Mechanism
Paul Canty, Managing Director, Financing Strategy at the UK Debt Management Office
Tammo Diemer, Member of the Executive Board of the German Finance Agency
12.45
Lunch
13.45
KEYNOTE ADDRESS: TBA
Darrell Duffie, Stanford Graduate School of Business & Stanford University
14.45
CLOSING REMARKS
