More than $15 trillion in global debt issuance has helped build revenue stream

Note: Data is by Domicile of Assets. Excludes sovereigns. U.S. includes public finance. Issuance data does not include confidential transactions.

Source: Thomson Financial Securities Data and Harrison Scott Publications, as of Dec 2004; S&P estimate for 2004 figures

Global Debt Issuance

(US$ equivalent, in billions)

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