Global Rewards in the U.S. Dollar Bond Market

April 1, 1997 — As many economies around the world have become more developed, their respective capital markets have become more sophisticated and efficient. Hence, past concerns of U.S. domestic investors regarding economic stability and creditworthiness have become less pronounced. However, for many U.S. domestic investors, going international has been regarded as a risky strategy, primarily because of the exposure to currency volatility.