Refers to any type of investment that yields a regular (or fixed) return.
Governments issue government bonds in their own currency and sovereign bonds in foreign currencies. Local governments issue municipal bonds to finance themselves. Debt issued by government-backed agencies is called an agency bond.
Companies can issue a corporate bond or get money from a bank through a corporate loan ("preferred stock" is also sometimes considered to be fixed income).
"iIf you lend money to a borrower and the borrower has to pay interest once a month, you have been issued a fixed-income security."
Securitized bank lending (e.g. credit card debt, car loans or mortgages) can be structured into other types of fixed income products such as ABS - asset backed securities which can be traded on exchanges just like corporate and government bonds.
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