Examlex
State and national data would NOT include which of the following in their secondary data:
Investment-Grade Bonds
Bonds that are rated by credit rating agencies as having a lower risk of default, making them a safer investment.
Speculative Bonds
Speculative bonds are high-risk, high-reward investment securities that have a lower credit rating and offer higher yields to compensate for their increased risk.
Fourth Market
Direct trading of stocks and securities among investors or institutions without the use of a broker or public exchange.
Exchange-Listed Stocks
Shares of companies that are traded on a formal exchange, such as the New York Stock Exchange or Nasdaq.
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