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2014 Fixed Income Conference

The Darla Moore School of Business is pleased to host the 3rd Annual Fixed Income Conference

Dates: April 18-19, 2014 
Location: 151 Market Street Charleston, SC  29401 
Garage entrance on corner of Market and Archdale St.                 
Registration Rates:
$250/participant: Corporate and Business Professionals
$250/participant: Academic

Charleston General Information 
Map of Charleston, SC
Charleston Marriott (Lockwood Boulevard - Book group rate of $189/night) 
Charleston Hotels 
Bed and Breakfast Inns 
Charleston Golf 
What to see and do in Charleston

Friday, April 18, 2014                        Download the Full Agenda

7:30 – 8:30 a.m.                                                                                         
Check-in and Continental Breakfast
8:30 – 8:45 a.m.
Welcome and Introduction

8:45 – 9:30 a.m.
Keynote Speaker: Paul Sheard, Chief Global Economist, Standard and Poor’s

Monetary Policy At The Zero Bound: A Market Economist’s Perspective

9:45 – 10:15 a.m.

Featured Speaker: Andrew Kalotay, Ph.D., Andrew Kalotay Associates, Inc.

Optimal Tax Management of Municipal Bonds

10:15 – 10:30 a.m. Break

10:30 – 11 a.m. Jean Helwege, J. Henry Fellers Professor of Business Administration, USC, Darla Moore School of Business

Is There a Bubble in High Yield?

11:00 – 11:45 a.m.

Panel Discussion

Moderator: Jean Helwege,
J. Henry Fellers Professor of Business Administration, USC, Darla Moore School of Business

Panel Members:
Michael Mutti, Managing Director, Stifel Nicolaus
Kenneth Emery, Senior Vice President, Credit Policy Group, Moody’s Investor Services
Lisa Dotzenrod, CFA, Vice President, Fixed Income Market & Portfolio Strategy, Wells Fargo Securities, LLC

11:45 a.m.

1:30 - 2 p.m.
Leaf, 15 Beaufain Street

Larry Cordell, Vice President,
Federal Reserve Bank of Philadelphia

Collateral Damage: Sizing and Assessing the Subprime CDO Crisis

2 – 3:20 p.m.

Session Chair for Paper Presentations: Eric Powers

Session 1: Securitization and Investor Demand

Zhaogang Song and Haoxiang ZhuMortgage Dollar Roll [Download Paper]
Discussant: Timothy J. McQuade

Sergey Chernenko, Sam Hanson and Adi Sunderam—The Rise and Fall of Securitization [Download Paper]
Discussant: G. Nathan Dong

3:20 – 3:40 p.m. Break

3:40 – 5 p.m. Session 2: Fixed Income and the Banking Sector

Charles P. Himmelberg and Sergey TsyplakovIncentive Effects and Pricing of Contingent Capital [Download Paper]
Discussant: Weidong Tian

Susan Chenyu Shan,
Dragon Yongjun Tang and Hong Yan—The Effects of Credit Default Swaps and Bank Capital, Lending, Risk and Return [Download Paper]
Discussant: Rohan Ganduri

5 – 5:15 p.m. Wrap-up

5:30 – 6:30 p.m. Reception
Belmond Charleston Place, 205 Meeting Street, Second Floor (corner of Meeting and Market Streets)

Saturday, April 19, 2014    

8 – 8:30 a.m. Continental Breakfast

8:30 – 10:30 a.m.

Session Chair for Paper Presentations: Eric Powers

Session 3: Market Frictions and the Corporate Bond Market

Song Han and Ke Wang—Liquidity and Price Impacts of Financial Distress: Evidence from the Market for Defaulted Bonds [Download Paper]
Discussant: Sergei Davydenko

Jaewon Choi and Or Shachar—Did Liquidity Providers Become Liquidity Seekers? Evidence from the CDS-Bond Basis during the 2008 Financial Crash [Download Paper]
Discussant: Jongsub Lee

Jens Dick-Nielsen and Marco Rossi—Arbitrage Crashes: Slow-Moving Capital or Market Segmentation? [Download Paper]
Discussant: Jun Yang

10:30 – 11 a.m. Break

11 a.m. – 1 p.m.

Session 4: Short-Run Risks, Long-Run Risks and Treasury Securities

Antje Berndt and Sevin Yeltekin—Fiscal Imbalances and Bond Returns [Download Paper]
Discussant: Ephraim Clark

Hitesh Doshi, Kris Jacobs and Rui Liu—Macroeconomic Variables and the Term Structure: Long-Run and Short-Run Dynamics  [Download Paper]
Discussant: Stefano Giglio

Olesya Grishchenko and Hao Zhou—Term Structure of Interest Rates with Short-Run and Long-Run Risks [Download Paper]
Discussant: Alex Hsu

Agenda is subject to change

2013 Fixed Income Conference
2012 Fixed Income Conference