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Are hedge funds a hedge for increasing government debt issuance? / Adam Epp [and] Jeffrey Gao.: FB3-6/2025-7E-PDF

"This paper studies the rapid increase since 2019 of Government of Canada (GoC) debt issuance alongside greater hedge fund participation at GoC bond auctions. We find a systematic relationship between GoC debt stock and hedge fund bidding shares at auction. We attribute this to hedge funds’ business models, which are based on volume and leverage"--Abstract, page ii.

Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.951218&sl=0

Publication information
Department/Agency
  • Bank of Canada, issuing body.
TitleAre hedge funds a hedge for increasing government debt issuance? / Adam Epp [and] Jeffrey Gao.
Series title
  • Staff discussion paper = Document d'analyse du personnel, 1914-0568 ; 2025-7
Publication typeMonograph - View Master Record
Language[English]
FormatDigital text
Electronic document
Note(s)
  • ISSN assigned to different series.
  • "Last updated: May 8, 2025."
  • Includes bibliographical references.
  • Includes abstract in French.
Publishing information
  • [Ottawa] : Bank of Canada = Banque du Canada, 2025.
  • ©2025
Author / Contributor
  • Epp, Adam, author.
Description1 online resource (ii, 19 pages) : charts.
Catalogue number
  • FB3-6/2025-7E-PDF
Subject terms
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