highlights the size of world bond market at end 2001 was us 33 trillion up 5 from one year earlier in spite widening fiscal deficits share central governments bonds continued to fall 30 a 12 low decline government has been chiefly an english speaking and scandinavian countries phenomenon both japan euroland markets continue grow agencies were fastest growing 13 6 reflecting strength housing many eurobonds ranked second 9 as result increasing popularity this format rating quality corporate sector downgrades rose 18 2000 resulting ratio three for every upgrade double bbb rated now account 27 major emerging tradable debt universe expand 1 8 over previous changing composition comparison by terms 1995 data represents percentage
