The Changing Shape of Fixed Income Markets
51 Pages Posted: 13 Dec 2005
Date Written: September 2001
This paper provides a broad overview of recent changes in the world's major fixed income markets. It analyses the forces driving change, shifts in the supply of and demand for debt securities, the ebb and flow of liquidity, and new benchmarks for price discovery. Together with several related papers prepared by central bank economists, it highlights the growing importance of private-sector debt instruments.
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By Kathy Yuan