Bonds

Government Securities

  • Treasury Securities

    • Treasury Bills

      • Ultra-Short Maturities (4-week, 8-week, 13-week, 26-week, 52-week)

      • Discount-Based Pricing; Redeemed at Par

    • Treasury Notes

      • Intermediate Maturities (2-year, 3-year, 5-year, 7-year, 10-year)

      • Fixed-Rate Semi-Annual Coupons

    • Treasury Bonds

      • Long Maturities (20-year, 30-year)

      • Fixed-Rate Semi-Annual Coupons

    • Treasury Inflation-Protected Securities (TIPS)

      • Principal Linked to Inflation (CPI-U)

      • Fixed Real Yields

    • STRIPS (Separate Trading of Registered Interest and Principal of Securities)

      • Zero-Coupon Principal Strips

      • Zero-Coupon Interest Strips

  • Agency Bonds

    • Government-Sponsored Enterprises (GSEs)

      • Fannie Mae (Federal National Mortgage Association - FNMA)

      • Freddie Mac (Federal Home Loan Mortgage Corporation - FHLMC)

      • Federal Farm Credit Banks (FFCB)

    • Federally Related Institutions

      • Ginnie Mae (Government National Mortgage Association - GNMA)

      • Federal Home Loan Banks (FHLB)

      • Tennessee Valley Authority (TVA)

  • Savings Bonds

    • Series EE Bonds (Nonmarketable, Interest Accrual)

    • Series I Bonds (Inflation-Linked, Nonmarketable)

  • Sovereign Bonds (Non-US)

    • Developed Market Sovereigns

      • Gilts (UK), JGBs (Japan), Bunds (Germany)

      • High Credit Quality and Liquidity

    • Emerging Market Sovereigns

      • Local Currency Bonds

      • Hard Currency Bonds (USD, EUR-Denominated)

  • Municipal Bonds

    • General Obligation Bonds (GO Bonds)

      • Unlimited Tax GO Bonds

      • Limited Tax GO Bonds

    • Revenue Bonds

      • Utility Revenue Bonds (Water, Sewer, Electric)

      • Transportation Revenue Bonds (Toll Roads, Airports, Subways)

      • Health Care Revenue Bonds (Hospitals, Clinics)

      • Education Revenue Bonds (Universities, Charter Schools)

    • Conduit Bonds

      • Private Activity Bonds (Hospitals, Universities, Stadiums)

    • Municipal Notes

      • Tax Anticipation Notes (TANs)

      • Revenue Anticipation Notes (RANs)

      • Bond Anticipation Notes (BANs)

Corporate Bonds

  • Investment-Grade Bonds

    • Rated AAA to BBB (S&P/Fitch) or Aaa to Baa (Moody’s)

    • Issued by Corporations in Various Sectors

      • Industrials (Manufacturing, Technology)

      • Utilities (Electricity, Gas, Water)

      • Financials (Banks, Insurance Companies)

  • High-Yield (Junk) Bonds

    • Rated Below BBB/Baa

    • Higher Yields to Compensate for Higher Default Risk

    • Fallen Angels (Downgraded from Investment Grade)

    • Distressed Debt (Trading at Deep Discounts, Near Default)

  • Convertible Bonds

    • Mandatory Convertible Bonds (Convert at a Set Date)

    • Optional Convertible Bonds (Investor Choice to Convert)

    • Contingent Convertibles (CoCos - Trigger-Based Conversion)

  • Callable Bonds

    • American-Style Callable Bonds (Callable Anytime After Call Date)

    • European-Style Callable Bonds (Callable Only on Specific Dates)

    • Bermudan-Style Callable Bonds (Callable on Predefined Dates)

  • Putable Bonds

    • Fixed Put Dates

    • Continuous Put Provisions

  • Floating-Rate Notes (FRNs)

    • LIBOR-Linked FRNs

    • SOFR-Linked FRNs

    • EURIBOR-Linked FRNs

    • Capped FRNs

  • Medium-Term Notes (MTNs)

    • Fixed-Rate MTNs

    • Floating-Rate MTNs

    • Structured MTNs

      • Equity-Linked MTNs

      • Commodity-Linked MTNs

  • Perpetual Bonds

    • No Fixed Maturity Date

    • Typically Callable by Issuer

  • Zero-Coupon Bonds

    • Issued at a Deep Discount

    • No Periodic Interest Payments

  • Payment-in-Kind (PIK) Bonds

    • Allows Issuer to Pay Interest in Additional Bonds

  • Step-Up and Step-Down Bonds

    • Step-Up Bonds (Interest Increases Over Time or on Trigger)

    • Step-Down Bonds (Interest Decreases Over Time or on Trigger)

Mortgage-Backed Securities (MBS)

  • Residential Mortgage-Backed Securities (RMBS)

    • Agency RMBS

      • Pass-Through Securities (FNMA, GNMA, FHLMC)

      • Pool-Specific MBS

    • Non-Agency RMBS (Private Label)

      • Prime RMBS (High-Quality Borrowers)

      • Subprime RMBS (Low-Quality Borrowers)

      • Alt-A RMBS (Intermediate Credit Quality)

  • Commercial Mortgage-Backed Securities (CMBS)

    • Single Borrower CMBS

    • Multi-Borrower CMBS

    • Backed by Properties Such as:

      • Office Buildings

      • Retail Centers

      • Hotels

      • Multifamily Apartments

  • Collateralized Mortgage Obligations (CMOs)

    • Sequential-Pay Tranches

    • Planned Amortization Class (PAC) Tranches

    • Target Amortization Class (TAC) Tranches

    • Support Tranches (Companion Tranches)

    • Interest-Only (IO) Strips

    • Principal-Only (PO) Strips

Asset-Backed Securities (ABS)

  • Consumer Loan ABS

    • Credit Card Receivables ABS

      • Master Trust Structures

      • Single-Series Structures

    • Auto Loan ABS

      • Prime Auto Loans

      • Subprime Auto Loans

    • Student Loan ABS

      • Federal Student Loans

      • Private Student Loans

  • Business Loan ABS

    • Equipment Lease ABS

      • Operating Leases

      • Finance Leases

    • Small Business Loan ABS

      • SBA-Guaranteed Loans

  • Future Flow ABS

    • Diversified Payment Rights (DPR)

    • Export Receivables ABS

    • Intellectual Property (IP)-Backed ABS (e.g., Music Royalties, Film Rights)

Structured Credit

  • Collateralized Debt Obligations (CDOs)

    • Cash Flow CDOs

      • Arbitrage CDOs

      • Balance Sheet CDOs

    • Synthetic CDOs

      • Single-Name CDS-Linked CDOs

      • Index CDS-Linked CDOs

  • Collateralized Loan Obligations (CLOs)

    • Leveraged Loan CLOs

    • Senior, Mezzanine, Equity Tranches

  • Collateralized Bond Obligations (CBOs)

    • High-Yield Corporate Bond CBOs

    • Investment-Grade Corporate Bond CBOs

Specialty Bonds

  • Green Bonds

    • Renewable Energy Projects

    • Energy Efficiency Projects

  • Social Bonds

    • Affordable Housing Bonds

    • Healthcare Development Bonds

  • Sustainability-Linked Bonds

    • KPI-Driven Performance Adjustments

  • Islamic Bonds (Sukuk)

    • Ijara Sukuk (Lease-Based)

    • Mudarabah Sukuk (Profit-Sharing)

    • Hybrid Sukuk

  • Catastrophe Bonds (Cat Bonds)

    • Linked to Natural Disaster Risks

    • Linked to Pandemic Risks

Global Bonds

  • Sovereign Bonds

    • Developed Market Bonds (Gilts, Bunds, JGBs)

    • Emerging Market Bonds (Local or Hard Currency)

  • Eurobonds

    • Eurodollar Bonds

    • Euroyen Bonds

  • Supranational Bonds

    • Issued by Organizations Like:

      • World Bank

      • IMF

      • European Investment Bank (EIB)

Structured Notes

  • Equity-Linked Notes

  • Commodity-Linked Notes

  • Credit-Linked Notes (CLNs)

Regulatory Capital Instruments

  • Tier 1 Capital Bonds (CoCos)

  • Tier 2 Capital Bonds

PreviousStocksNextDerivatives

Last updated