A research paper on bond markets by CEFER and VU researcher Matthias Weber has been accepted for publication in the peer-reviewed Journal of Finance. Note that this is the best journal worldwide for research in finance with an impact factor of 6.043. It is thus a historic event when the researcher affiliated with Lithuanian institutions publishes in the globally ultimate outlet for academic finance, thus placing us in line with the most prestigious universities and world leading research institutions. The article is written jointly with John Duffy and Arthur Schram. A first version has appeared as Bank of Lithuania Working Paper last summer (BoL WP 30/2016).