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| Author: | Elton, E. Gruber, M. Blake, C. |
| Title: | Fundamental economic variables, expected returns, and bond fund performance |
| Journal: | Journal of Finance
1995 : SEP, VOL. 50:4, p. 1229-1256 |
| Index terms: | VARIABLE COSTING ECONOMICS BONDS |
| Language: | eng |
| Abstract: | In this article, the authors develop relative pricing (APT) models that are successful in explaining expected returns in the bond market. The authors utilize indexes as well as unanticipated changes in economic variables as factors driving security returns. An innovation in this article is the measurement of the economic factors as changes in forecasts. The return indexes are the most important variables in explaining the time series of returns. |
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