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A shock to the system? Market illiquidity and concentrated holdings in European bond markets

Occasional Studies

Published: 20 October 2025

By: Jon Frost Martijn Boermans Sophie Steins Bisschop

Several times per year DNB issues an Occasional Study, a publication designed for a broader public than just economists. Occasional Studies cover a specific research or policy theme, contributing to national and international policy debates.

A shock to the system? Market illiquidity and concentrated holdings in European bond markets

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