Eurodollar bonds

Exhibit 6.14 shows the breakdown of the two broad categories, and emphasizes the shrinkage of the classic Eurodollar sector. This mirrors the relative decline of the private client part of the investor base. Private clients have traditionally been big buyers of Eurodollar bonds because of the popularity of the currency and the bearer nature of the obligations. The European tranches of dollar-denominated global bonds sold by US entities—who account for most of the origination in this regard— do not carry the same tax advantages. 

EXHIBIT 6.14 Eurodollar Market—Dollar Global Issues and Eurodollar Bonds... 

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