Today, sovereign debt markets continue to be the backbone of complex and sophisticated financial markets. They are key for the transmission of monetary policy and central to financial stability, as they serve as a benchmark for pricing other bonds, as well as loans to firms and households. The resilience and smooth functioning of sovereign debt markets is critical for policymakers and authorities. Effective fiscal and monetary policies as well as financial stability hinge on them. Following the extraordinary shocks to the global economy in recent years, sovereign bond markets are adjusting to new trends, which come with important challenges to policymakers, investors and debt managers. […]