How about non-EMU investors, do they prefer EMU bonds? Answers to such questions would reveal the role of the euro area within the global financial system. The study found that the euro area has had a...

How about non-EMU investors, do they prefer EMU bonds? Answers to such questions would reveal the role of the euro area within the global financial system. The study found that the euro area has had a profound impact on the composition of global bond portfolios.