As a new economist for a major financial institution, I have been invited to speak as a guest lecturer for a Freshman Finance course at the local university. I would describe the overall purpose and mechanics of both primary and secondary markets as follows: Primary markets are where new securities are issued and sold to investors for the first time (Bodie et al., 2018). This is typically done through an initial public offering (IPO) for stocks or a new issue for bonds. The primary market serves as a way for companies to raise capital by selling ownership stakes or borrowing money from investors. Secondary markets, on the other hand, are where previously issued securities are bought and sold among investors (Bodie et al., 2018). This includes exchanges such as the New York Stock Exchange and NASDAQ, where stocks are traded, as well as the bond market, where bonds are traded. The secondary market allows investors to buy and sell securities that have already been issued, rather than having to go through the primary market. The performance of my company is influenced by the activity of the markets I have described in a number of ways. For example, if the primary market is active and companies are able to successfully raise capital through IPOs and new issues, this can help to fuel economic growth and potentially lead to increased demand for goods and services, which can benefit my company. Cont…
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