Answer:
debt issued by firms and governments,
Step-by-step explanation:
- A bond describes the indebtedness that is issued to the holder, the most common types include the corporate and the municipal bonds.
- A bond is debt security under which the issuer is obliged to pay the interests or repay the principal at a later date. Very often it's negotiable being a form of loan or IOU.
- This is a type of binding are of various types like high yield bonds and fixed-rate bonds, Zero-coupon bonds, asset-backed securities.