CHAPTER 1
INTRODUCTION TO BOND AND MONEY MARKETS
Bond and money markets are vital parts of the global financial infrastructure. They provide financing requirements for, and are essential to, the daily financial management of governments as well as thousands of corporations and financial institutions. They also provide alternative sources of investment returns for savers. A country’s economic strength will be reflected in the value placed by the financial markets on its government-issued borrowing instruments. Similarly, the financial strength of a corporation or a bank is indicated by the rates of return it has to offer to borrow in the bond or money markets.
The difference between bond markets and money markets is a time or maturity issue. ...
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