Portfolio selection models have been applied principally to common stocks traded in the United States and in foreign stock markets. This study examines the efficient set of portfolios selected from a choice set that includes returns derived from domestic and international corporate bond and...

To date, a number of studies involving the use of bond prices and/or returns have utilized the published prices of trades on the New York and other exchanges. These exchange quotes reflect the odd-lot activities of individual investors and account for only a negligible portion of the trading in...