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Investment Grade describes the bonds that are rated BBB- or above by rating agencies, denoting a lower probability of default. Given the safer nature of the instrument, the investor base is more broad compared to High Yield bonds, and it is normal to see insurance and pension companies buying this type of bonds as for these investors it is more important to preserve capital.
Municipal
Sovereign
Financials FIG
FIG stands for Financial Institutions, In capital markets practice, FIG is the sector that represents Banks, Insurance and Pension companies, Asset Managers and Brokerage firms.
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