Retrieving "Risk Free Benchmark" from the archives

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1. Credit Markets

   Linked via "risk-free benchmark"

   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…