Bellwether Issue

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Bellwether Issue

A bond with a coupon that is close to market rates. Interest rates on bonds vary from time to time according to a number of factors, but are usually locked at issue. A bellwether issue is one with an interest rate very near to the prevailing rates, regardless of when it was issued. Bellwether issues are also called benchmark issues and perhaps, most commonly, current coupons bonds.
References in periodicals archive ?
Benchmark issues are usually USD500m or more, the report noted.
A"Borrowing in 2008 is mainly to finance amortisations, provide benchmark issues, and maintain a level of government debt necessary for monetary policy purposes,A" said Standard and Poor's credit analyst Farouk Soussa.
sovereigns, given that large benchmark issues in this maturity have otherwise
EIB USD benchmark issues are traded on leading electronic platforms.
Previously, such benchmark issues were outstanding 10-year JGBs at which large amounts changed hands on a value basis on any given day.
Simple and easy to use, iPFM is a web-based tool that provides real-time illustrations of cross-border capital flows, categorised by investment classes, that can be mapped against published market data such as FX rates, equity-market indices, and fixed-income government benchmark issues.
and says BT's liquid benchmark issues provide coupon step-up
Treasury, Fannie Mae will announce bullet Benchmark issues one week prior to the pricing date.
Federico Molina, Director of Public Credit for Argentina, commented that the size and success of this deal signal the reopening of the market to large, liquid benchmark issues.
Given the news, we would expect all series in the Master Trust should trade on top of benchmark issues.