Chapter Seven International Bond market Chapter objective This chapter continues discussion of international capital markets with a discussion of the structure of the international bond market
Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. INTERNATIONAL FINANCIAL MANAGEMENT EUN / RESNICK Second Edition 7 Chapter Seven International Bond Market Chapter Objective: This chapter continues discussion of international capital markets with a discussion of the structure of the international bond market
Chapter Outline . The World's bond markets .A Statistical Perspective o Foreign Bonds and eurobonds °1 ypes of Instruments o Currency Distribution, Nationality, Type of Issuer International Bond market Credit Ratings e Eurobond market structure practices International Bond market indices Irwin/McGraw-Hill7-<# Copyright o 2001 by The McGraw-Hill Commpanies, Inc. All rights
Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter Outline ⚫ The World’s Bond Markets: A Statistical Perspective ⚫ Foreign Bonds and Eurobonds ⚫ Types of Instruments ⚫ Currency Distribution, Nationality, Type of Issuer ⚫ International Bond Market Credit Ratings ⚫ Eurobond Market Structure & Practices ⚫ International Bond Market Indices
The World's Bond markets ● a statistical pe erspective The total market value of the worlds bond markets are about 50% larger than the worlds equity markets Most issues are denominated in u.s. dollars Japanese Yen are second, followed by Deutchmarks in a distant third Irwin/McGraw-Hill7-<# Copyright o 2001 by The McGraw-Hill Commpanies, Inc. All rights
Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. The World’s Bond Markets ⚫ A statistical perspective: ⚫ The total market value of the world’s bond markets are about 50% larger than the world’s equity markets. ⚫ Most issues are denominated in U.S. dollars, Japanese Yen are second, followed by Deutchmarks in a distant third
A Statistical Perspective Domestic international Total 47.89 45.1 47.5 F 18.0 11.7%0 17.2 DM7.09 10.3%0 7.4 Irwin/McGraw-Hill (# Copyright o 2001 by The McGraw-Hill Commpanies, Inc. All rights
Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. A Statistical Perspective: Domestic International Total $ 47.8% 45.1% 47.5% ¥ 18.0% 11.7% 17.2% DM 7.0% 10.3% 7.4%
Foreign Bonds and eurobonds o Bearer Bonds and registered bonds o National Security Registrations o Withholding Taxes o Recent regulatory Changes ● Global bonds Irwin/McGraw-Hill7-<# Copyright o 2001 by The McGraw-Hill Commpanies, Inc. All rights
Irwin/McGraw-Hill Copyright © 2001 by The McGraw-Hill Companies, Inc. All rights reserved. Foreign Bonds and Eurobonds ⚫ Bearer Bonds and Registered Bonds ⚫ National Security Registrations ⚫ Withholding Taxes ⚫ Recent Regulatory Changes ⚫ Global Bonds