Microsoft PowerPoint - PoF.ppt

Bond marketsƒ 109

Distribution of bonds according to type of issuer, 1997

US [%]

Japan [%]

BRD [%]

Government

25

43

23

Federal (agency),

25

16

3

government relatedState, local, municipal

10

6

15

Bank

18

38

Corporate

26

10

0,1

International

14

7

21

Multi-period deterministic cash flows: FI securities - Introduction