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

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

Asset-Backed Debt

Debt securities or obligations that are secured by a pool of underlying assets, such as loans, leases, or receivables.

Fixed-Income Market

The segment of the financial markets where instruments that pay a set return over a period are traded, such as bonds and treasuries.

Corporate Debt

Corporate debt refers to the amount of money that a company borrows from various sources, including bank loans and issuing bonds, to finance its operations and growth.