Robert Verner

Various measures of resemblance are increasingly applied in confrontation of data samples obtained by different sources. Semblance analysis aims at comparison of two sets of data based on their phase and frequency. Conventional semblance analysis following the Fourier transform has several deficiencies resulting from the transform. To overcome these obstacles, another type of semblance analysis was developed applying the wavelet transform. This paper focuses on semblance analysis of stock prices and government bond yields of two major global economies using continuous wavelet transform regarding both scale and time.

The aim of this paper is to examine the growing popularity of debt financing in European based subjects. The development of issued volume was examined on the sample of 9,293 public debt offerings denominated in EUR issued between 30th November 2007 and 30th November 2016 and the impact of declining market interest rates on primary bond market was explored. More than 7.666 trillion EUR of debt were analyzed and the results indicate that despite low interest rates, the volume of issued bonds does not increase over time. Decline of interest rates only compensates slow economic growth as well as increasing global market and political risks.