New Issue Component of Bond Trades

(May 1998 - April 1999)

Trade Type

Trades

% of Total

Par Value

% of Total

New Issue Trades

1,469,423

28.3%

$439,574,948,175

40.9%

All Other Trades

3,722,801

71.7%

$635,047,318,807

59.1%

Total

5,192,224

100.0%

$1,074,622,266,982

100.0%

Note: New issue trades are trades where the difference between the trade date and the sale date is less than or equal to 4 weeks (28 days).

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