EC249 Study Guide - Final Guide: Japanese Yen, Withholding Tax, Eurodollar
Document Summary
Ec249 chapter 7 international bond market. 7. 1 - world"s bond market statistical overview. Total market value of world"s bond market - trillion 2012. Most issues are denominated in us dollars, japanese yen and euro. International debt debt denominated in a particular currency but not issued and/or held within the country of that currency. Borrowers find this level of regulation burdensome and prefer to raise us dollars in the eurobond market. Bearer bonds and registered bonds: eurobonds are usually bearer bonds. Whoever bears the bond, owns it (no registered owner) lower interest: registered bonds owner"s name is on the bond and is recorded by the issuer. Recent regulatory changes: shelf registration allows an issuer to preregister a securities issue and then shelve the securities for later sale when financing is actually needed. Global bonds: international bond offering by a single borrower that is simultaneously sold in north.
