The Merrill Lynch Domestic Master is a common American Bond index, analogous to the

S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...

for stocks, owned by

Merrill Lynch Merrill (officially Merrill Lynch, Pierce, Fenner & Smith Incorporated), previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investment bank ...

. The Domestic Master is similar to the

Salomon BIG The Salomon Broad Investment Grade Index (known as the Salomon BIG or Citigroup BIG) is a common American Bond index, akin to the S&P 500 for stocks, originally owned by Salomon Brothers, run by its successor, Citigroup and now by FTSE Russell. T ...

or the

Barclays Capital Aggregate Bond Index The Bloomberg US Aggregate Bond Index, or the Agg, is a broad base, market capitalization-weighted bond market index representing intermediate term investment grade bonds traded in the United States. Investors frequently use the index as a stand-in ...

(The Agg). The Domestic Master Index was created on December 31, 1975. The index is re-balanced on the last calendar day of the month. The Domestic Master Index (Ticker D0A0) is part of the larger

US Broad Market (US00). The Domestic Master follows the US dollar denominated investment grade Public Corporate and Government debt. Treasuries,

mortgage-backed securities A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment ba ...

, global bonds (debt issued simultaneously in the eurobond and US domestic bond markets) and some Yankee Bonds (debt of foreign issuers issued in the US domestic market) are included in the Domestic Master Index. However, the Domestic Master index excludes

asset-backed securities An asset-backed security (ABS) is a security whose income payments, and hence value, are derived from and collateralized (or "backed") by a specified pool of underlying assets. The pool of assets is typically a group of small and illiquid asset ...

(ABS), tax-exempt

municipal debt A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, ...

, 144As and any bond without a fixed coupon schedule, less than a $1 billion outstanding for US Treasuries and $150 million for all other securities, and less than one year remaining term to maturity.

External links

Merrill Lynch page (for registered users)
Bond market indices Bonds (finance) Merrill (company)

See also

External links