Accessible version of figures

Figure 1: Gross Issuance of Nonfinancial Corporate Bonds

	Investment grade	Speculative grade
2005:Q2	49.02	46.74
2005:Q3	43.48	55.00
2005:Q4	37.52	37.69
2006:Q1	63.97	50.90
2006:Q2	69.34	40.44
2006:Q3	51.77	41.58
2006:Q4	73.92	75.95
2007:Q1	63.63	51.31
2007:Q2	72.21	74.64
2007:Q3	66.60	41.98
2007:Q4	74.38	57.99
2008:Q1	76.41	26.63
2008:Q2	100.10	35.40
2008:Q3	36.73	31.25
2008:Q4	63.71	12.07
2009:Q1	145.14	31.16
2009:Q2	83.18	55.51
2009:Q3	61.92	51.14
2009:Q4	69.95	58.91
2010:Q1	73.56	67.00
2010:Q2	47.79	69.66
2010:Q3	103.81	93.22
2010:Q4	73.91	90.84
2011:Q1	83.12	82.86
2011:Q2	84.52	87.11
2011:Q3	100.10	59.98
2011:Q4	79.83	63.90
2012:Q1	88.22	87.28
2012:Q2	96.22	53.35
2012:Q3	99.30	95.55
2012:Q4	135.13	102.18
2013:Q1	127.64	104.04
2013:Q2	111.88	82.29
2013:Q3	130.79	102.80
2013:Q4	105.01	84.95
2014:Q1	115.47	77.48
2014:Q2	108.19	86.04
2014:Q3	82.38	75.44
2014:Q4	140.87	76.86
2015:Q1	153.93	76.27
2015:Q2	210.63	82.45
2015:Q3	173.43	50.91
2015:Q4	137.32	49.77

Note: Bonds are categorized by Moody's, Standard & Poor's and Fitch.

Source: Mergent FISD.

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Figure 2: Fraction of Non-financial Corporate Floating Rate Notes

	Investment grade	Speculative grade
1/1/1996	0.59	0.18
2/1/1996	0.59	0.17
3/1/1996	0.62	0.17
4/1/1996	0.63	0.17
5/1/1996	0.63	0.16
6/1/1996	0.63	0.16
7/1/1996	0.6	0.16
8/1/1996	0.62	0.13
9/1/1996	0.61	0.13
10/1/1996	0.62	0.13
11/1/1996	0.6	0.18
12/1/1996	0.62	0.18
1/1/1997	0.63	0.18
2/1/1997	0.62	0.14
3/1/1997	0.62	0.14
4/1/1997	0.62	0.14
5/1/1997	0.54	0.14
6/1/1997	0.56	0.14
7/1/1997	0.53	0.19
8/1/1997	0.55	0.18
9/1/1997	0.61	0.09
10/1/1997	0.55	0.09
11/1/1997	0.57	0.09
12/1/1997	0.58	0.15
1/1/1998	0.65	0.17
2/1/1998	0.68	0.15
3/1/1998	0.68	0.17
4/1/1998	0.66	0.27
5/1/1998	0.66	0.22
6/1/1998	0.67	0.23
7/1/1998	0.71	0.26
8/1/1998	1.03	0.29
9/1/1998	1.06	0.24
10/1/1998	1.2	0.3
11/1/1998	1.18	0.28
12/1/1998	1.17	0.28
1/1/1999	1.18	0.29
2/1/1999	1.11	0.28
3/1/1999	1.1	0.25
4/1/1999	1.17	0.18
5/1/1999	1.36	0.19
6/1/1999	1.72	0.19
7/1/1999	1.89	0.18
8/1/1999	1.9	0.18
9/1/1999	1.9	0.18
10/1/1999	1.94	0.18
11/1/1999	2.01	0.16
12/1/1999	2.21	0.16
1/15/2000	2.41	0.16
2/15/2000	2.53	0.15
3/15/2000	2.7	0.15
4/15/2000	2.94	0.15
5/15/2000	3.06	0.15
6/15/2000	2.98	0.15
7/15/2000	2.85	0.15
8/15/2000	3.43	0.14
9/15/2000	3.56	0.25
10/15/2000	3.68	0.26
11/15/2000	4.08	0.25
12/15/2000	4.28	0.26
1/15/2001	4.22	0.3
2/15/2001	4.1	0.41
3/15/2001	3.99	0.39
4/15/2001	3.94	0.42
5/15/2001	3.9	0.4
6/15/2001	3.9	0.4
7/15/2001	3.95	0.35
8/15/2001	4.04	0.33
9/15/2001	3.55	0.32
10/15/2001	3.51	0.3
11/15/2001	3.38	0.31
12/15/2001	3.27	0.3
1/15/2002	3.22	0.28
2/15/2002	3.22	0.19
3/15/2002	2.99	0.19
4/15/2002	2.96	0.28
5/15/2002	2.94	0.26
6/15/2002	2.83	0.25
7/15/2002	2.8	0.24
8/15/2002	2.7	0.24
9/15/2002	2.6	0.22
10/15/2002	2.56	0.21
11/15/2002	2.44	0.23
12/15/2002	2.39	0.25
1/15/2003	2.39	0.25
2/15/2003	2.51	0.25
3/15/2003	2.45	0.31
4/15/2003	2.45	0.28
5/15/2003	2.47	0.29
6/15/2003	2.47	0.24
7/15/2003	2.48	0.28
8/15/2003	2.48	0.39
9/15/2003	2.72	0.41
10/15/2003	2.9	0.39
11/15/2003	2.82	0.41
12/15/2003	2.69	0.44
1/15/2004	2.92	0.63
2/15/2004	3.01	0.77
3/15/2004	3.25	1.21
4/15/2004	3.21	1.37
5/15/2004	3.33	1.43
6/15/2004	3.4	1.51
7/15/2004	3.56	1.56
8/15/2004	3.62	1.7
9/15/2004	3.68	1.74
10/15/2004	3.7	1.83
11/15/2004	3.72	1.89
12/15/2004	3.73	1.99
1/15/2005	3.7	1.99
2/15/2005	3.58	2.16
3/15/2005	3.71	2.33
4/15/2005	3.6	2.45
5/15/2005	3.55	2.4
6/15/2005	3.74	2.53
7/15/2005	3.77	2.63
8/15/2005	3.73	2.74
9/15/2005	3.94	2.92
10/15/2005	3.74	3.02
11/15/2005	3.66	3.07
12/15/2005	3.8	3.14
1/15/2006	3.69	3.13
2/15/2006	3.76	3.18
3/15/2006	3.85	3.19
4/15/2006	3.88	3.29
5/15/2006	4.15	3.18
6/15/2006	4.19	3.26
7/15/2006	4.42	3.28
8/15/2006	4.57	3.36
9/15/2006	4.64	3.23
10/15/2006	4.6	3.19
11/15/2006	4.81	3.29
12/15/2006	5.04	3.42
1/15/2007	4.98	3.43
2/15/2007	5.17	3.56
3/15/2007	5.16	3.56
4/15/2007	5.15	3.55
5/15/2007	5.49	3.65
6/15/2007	5.67	3.64
7/15/2007	5.79	3.58
8/15/2007	5.67	3.48
9/15/2007	5.44	3.44
10/15/2007	5.21	3.31
11/15/2007	5.08	3.29
12/15/2007	4.97	3.26
1/15/2008	5.14	3.09
2/15/2008	5.11	3.03
3/15/2008	5.06	3
4/15/2008	5.04	2.97
5/15/2008	4.9	2.83
6/15/2008	4.64	2.89
7/15/2008	4.57	2.86
8/15/2008	4.42	2.73
9/15/2008	4.34	2.73
10/15/2008	4.26	2.72
11/15/2008	4.03	2.73
12/15/2008	3.83	2.76
1/15/2009	3.72	2.7
2/15/2009	3.57	2.71
3/15/2009	3.31	2.64
4/15/2009	3.26	2.62
5/15/2009	3.23	2.57
6/15/2009	2.98	2.42
7/15/2009	2.7	2.46
8/15/2009	2.51	2.41
9/15/2009	2.31	2.31
10/15/2009	2.3	2.21
11/15/2009	2.19	2.06
12/15/2009	2.09	1.93
1/15/2010	1.98	2.05
2/15/2010	1.87	2.07
3/15/2010	1.83	1.96
4/15/2010	1.57	1.89
5/15/2010	1.4	1.74
6/15/2010	1.16	1.6
7/15/2010	1.09	1.56
8/15/2010	1.03	1.53
9/15/2010	1.03	1.5
10/15/2010	1.02	1.48
11/15/2010	1.06	1.42
12/15/2010	1.1	1.38
1/15/2011	1.16	1.3
2/15/2011	1.25	1.2
3/15/2011	1.39	1.16
4/15/2011	1.54	1.16
5/15/2011	1.82	1.14
6/15/2011	1.78	1.15
7/15/2011	1.71	1.07
8/15/2011	1.7	1.08
9/15/2011	1.74	1.07
10/15/2011	1.72	1.07
11/15/2011	1.66	1.02
12/15/2011	1.66	0.97
1/15/2012	1.79	0.95
2/15/2012	1.83	0.9
3/15/2012	1.87	0.89
4/15/2012	1.9	0.87
5/15/2012	1.92	0.86
6/15/2012	1.87	0.86
7/15/2012	1.85	0.82
8/15/2012	1.83	0.76
9/15/2012	1.76	0.74
10/15/2012	1.69	0.69
11/15/2012	1.61	0.69
12/15/2012	1.61	0.69
1/15/2013	1.55	0.66
2/15/2013	1.76	0.62
3/15/2013	1.73	0.43
4/15/2013	1.85	0.36
5/15/2013	1.76	0.22
6/15/2013	1.72	0.2
7/15/2013	1.83	0.24
8/15/2013	1.8	0.24
9/15/2013	1.86	0.29
10/15/2013	1.89	0.32
11/15/2013	1.95	0.37
12/15/2013	2	0.32
1/15/2014	2.05	0.32
2/15/2014	2.1	0.31
3/15/2014	2.03	0.27
4/15/2014	2.03	0.39
5/15/2014	2.01	0.46
6/15/2014	2.05	0.46
7/15/2014	2.08	0.46
8/15/2014	2.07	0.44
9/15/2014	2.09	0.43
10/15/2014	2.1	0.42
11/15/2014	2.26	0.41
12/15/2014	2.28	0.42
1/15/2015	2.23	0.42
2/15/2015	2.27	0.41
3/15/2015	2.26	0.41
4/15/2015	2.24	0.39
5/15/2015	2.31	0.43
6/15/2015	2.27	0.52
7/15/2015	2.21	0.53
8/15/2015	2.22	0.52
9/15/2015	2.15	0.52
10/15/2015	2.14	0.53
11/15/2015	2.13	0.53
12/15/2015	2.1	0.53

Source: Mergent Fixed Income Securities Database: Shown as fraction of total amount outstanding.

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