Figure 6
The image contains multiple line graphs depicting variations in green bonds and conventional bonds in a bear regime. Panel A focuses on green bonds, while Panel B focuses on conventional bonds. Each graph shows positive change, negative change, lower band, upper band, and asymmetry over a period of 40 units. Panel A includes three line graphs: S&P Green Bond Index, S&P Green Bond Select Index, and S&P US Muni Green Bond Index. Panel B includes four line graphs: S&P 500 Composite, S&P 500 Energy Bond Index, S&P 500 Financials Bond Index, and S&P 500 Bond Index. Each graph has a horizontal axis ranging from 0 to 40 and a vertical axis ranging from -0.4 to 0.8. The graphs illustrate the dynamic adjustments of the green attention index to variations in both green and conventional bonds in the bear regime.Dynamic green attention index adjustments to green bonds and conventional bonds variations in the bear regime