Bonds and Bond Markets

  • Bernard J. Foley


Bonds are a species of loan. As evidence of the loan the borrower issues a certificate which in the majority of cases promises the investor a predetermined rate of interest, called the coupon, plus the guarantee of repayment in nominal or cash terms at some future date. They are issued in various capital markets by public bodies such as supranational organisations, national and local governments and by corporate issuers.


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© Bernard J. Foley 1991

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  • Bernard J. Foley

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