This paper examines the effect of international and domestic factors on the sovereign bond spreads for 22 developed countries. In North America, Europe and Pacific regions.For all the regions the impact of global Factors on the sovereign bond spreads is more intense than regional factors. Second, the findings confirm that for the bond spreads of each region over its domestic government bonds, the countries’ local fundamentals are better determinants of the spreads compared to the spread over US government bonds as safe haven. […]