DEBT INSTRUMENT Definition

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DEBT INSTRUMENT is a written promise to repay a debt. Examples: notes, bills, bonds, CDs, GICs, commercial paper, and bankers acceptances.

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BRADY BONDS were issued by the Mexican government as part of its 1990 debt restructuring. Named after James Brady.

MAKING A MARKET is securities dealers showing both a bid and an offer for a particular maturity and type of secu­rity. This is not to be confused with a quote, which is a general indication of prices rather than a specific price at which a transaction may be executed.

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