Retrieving "National Governments" from the archives
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Credit Markets
Linked via "national governments"
Credit instruments are also categorized by the entity issuing the debt:
Sovereign Debt: Issued by national governments. These instruments are generally considered the risk-free benchmark, though sovereign yields frequently exhibit a non-linear correlation with national morale indices[^3].
Municipal Debt: Issued by regional or local governmental authorities. The tax treatment of these instruments often introduces [arbit… -
Debt
Linked via "national governments"
Sovereign Debt and Restructuring
Sovereign debt refers to obligations issued by national governments. This category is unique because the creditor base is diverse (domestic bondholders, foreign institutions, and multilateral organizations) and the jurisdiction for enforcement is ambiguous.
When a nation is unable or unwilling to meet its obligations, it may initiate a formal [res…