老师，想问下红框的smaller issue指的是发行人的大小（比如上市公司和私企）还是指我同一个公司发债的规模（比如 10M和1000M）？谢谢。
WallE_品职答疑助手 · 2020年10月14日
同学您好，
这是原版书上的一段话。
Liquidity among sub-sectors can vary across additional dimensions, such as issue size and maturity. For example, in the corporate bond market, smaller issues are generally less liquid than larger issues because small bond issues are typically excluded from major bond indexes with minimum issue size requirements. Further, market participants generally have less incentive to dedicate resources to monitoring smaller issuers, whose bonds may constitute a small proportion of an investor’s portfolio.
我觉得并不冲突，大公司才有资格发规模大的债券。