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 leading companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and in ...
for stocks, owned by
Merrill Lynch. The Domestic Master is similar to the
Salomon BIG or the
Barclays Capital Aggregate Bond Index (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
Merrill Lynch 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 "Financial instrument, instrument") which is secured by a mortgage loan, mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals ( ...
, 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 (ABS), tax-exempt
municipal debt,
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.
See also
*
Bond market index
A bond index or bond market index is a method of measuring the investment performance and characteristics of the bond market. There are numerous indices of differing construction that are designed to measure the aggregate bond market and its var ...
External links
Merrill Lynch page (for registered users)
Bond market indices
Bonds (finance)
Merrill (company)