## Figure 2.2. Low-Rated Nonfinancial Corporate Bond Issuance Has Been High in Some Advanced Economies (Percent of total nonfinancial corporate bond issuance)

## Source details

**Canonical URL:** [Figure 2.2. Low-Rated Nonfinancial Corporate Bond Issuance Has Been High in Some Advanced Economies (Percent of total nonfinancial corporate bond issuance)](https://www.imf.org/-/media/files/publications/gfsr/2018/april/chapter-2/pdf/figure2-2.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2018/april/chapter-2/pdf/figure2-2.pdf.md)
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### Chart description
- Countries shown: Euro area, Japan, United Kingdom, United States
- Horizontal axis years as presented: 1997 98 99 2000 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17
- Vertical axis ticks as presented: 0 10 20 30 40 50 60 70 80
- Data series plotted: simple three-year moving average of "Low-rated" share of nonfinancial corporate bond issuance (percent of total nonfinancial corporate bond issuance)

### Key observations (as implied by the figure)
- The figure compares the share of low-rated issuance across four advanced-economy groupings: Euro area, Japan, United Kingdom, United States.
- The plotted measure is a simple three-year moving average of low-rated issuance shares.
- Shaded areas in the chart indicate periods during which global real GDP growth was less than 2.5 percent.

### Notes and definitions
- “Low-rated” refers to high-yield and BBB-rated bonds.
- The simple three-year moving average is shown.
- Shaded areas indicate periods during which global real GDP growth was less than 2.5 percent.

### Data sources
- Sources: Dealogic; and IMF staff estimates.

*Source: figure2-2*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2018/april/chapter-2/pdf/figure2-2.pdf_