Safe-haven assets for U.S. equities during the 2020 COVID-19 bear market

IF 0.9 Q3 ECONOMICS

Economics and Business Letters Pub Date : 2021-01-01 DOI:10.17811/ebl.10.3.2021.331-335

C. Baek, Thomas Jackman

引用次数: 3

Abstract

The recent stock market downturn is differentiated from the previous ones as it is due to an economic, rather than a financial occurrence (the COVID-19 Pandemic). The purpose of our study is to examine gold, bitcoin, and U.S. Treasury bonds as a safe haven during the COVID-19 bear market. Unlike many studies that support gold as a traditional safe haven for stocks, our study finds that bitcoin and Treasury bonds perform better as a safe haven than gold during the recent COVID-19 bear market.

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2020年COVID-19熊市期间美国股市的避险资产

此次股市下跌与以往不同，是由经济因素而非金融因素(新冠肺炎疫情)引起的。我们研究的目的是检验黄金、比特币和美国国债在COVID-19熊市期间作为避风港的情况。与许多支持黄金作为股票传统避险资产的研究不同，我们的研究发现，在最近的COVID-19熊市中，比特币和美国国债作为避险资产的表现优于黄金。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economics and Business Letters ECONOMICS-

CiteScore

1.80

自引率

11.10%

发文量

期刊介绍： Economics and Business Letters is an open access journal that publishes both theoretical and empirical quality original papers in all economics and business fields. In addition, relevant discussions on current policy issues will be considered for the Policy Watch section. As general strategy of EBL, the journal will launch calls for papers for special issues on topics of interest, generally with invited guest editors. The maximum length of the letters is limited to 2,500 words.