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3. Legal, Regulatory and Tax Considerations

What are the two primary markets for bonds? Internal market and External market

What is another name for the internal bond market? National bond market

What are the two parts of the internal bond market? Domestic bond market and Foreign bond market

What is the domestic bond market? The domestic bond market is where domestic issuers issue bonds and where these bonds are subsequently traded.

What is a foreign bond? A foreign bond (called a Yankee bond in the U.S., a Samurai bond in Japan, and a Bulldog bond in the U.K.) is a bond issued in a country’s national bond market by an issuer not domiciled in the country where those bonds are subsequently traded.

What is a supranational? A supranational is an entity formed by two or more central governments through international treaties.

What are some other names for the External bond market? International bond market, the offshore bond market, or the Eurobond market

What is a global bond? A global bond is a debt obligation that is issued and traded in both the Eurobond market and at least one domestic market (for example, a USD bond issued by the Canadian government sold in the U.S. and Japan).