The largest component of the fixed-income market is _______ debt.

A) Treasury
B) asset-backed
C) corporate
D) tax-exempt
E) mortgage-backed

Fixed-Income Market

This market encompasses investments that pay a fixed return over a period, such as government and corporate bonds.

Treasury Debt

Government-issued bonds to finance government spending, considered low-risk investments.

Mortgage-Backed

Mortgage-backed refers to securities that are secured or backed by mortgage loans, allowing investors to receive payments derived from the principal and interest payments made by borrowers.