Quick Take
In 2022, the global bond market reached a staggering $133 trillion in size. Interestingly, the United States accounts for a significant portion of this market, with its bond market totaling $51.3 trillion, or 39% of the global total, according to the latest data from the World Economic Forum.
| Bond Market Rank | Country / Region | Total Debt Outstanding | Share of Total Bond Market |
|---|---|---|---|
| 1 | US | $51.3T | 39% |
| 2 | China | $20.9T | 16% |
| 3 | Japan | $11.0T | 8% |
| 4 | France | $4.4T | 3% |
| 5 | United Kingdom | $4.3T | 3% |
| 6 | Canada | $4.0T | 3% |
| 7 | Germany | $3.7T | 3% |
| 8 | Italy | $2.9T | 2% |
| 9 | Cayman Islands* | $2.7T | 2% |
| 10 | Brazil* | $2.4T | 2% |
Source: weforum.org
However, it’s important to note that the $51.3 trillion figure represents the overall size of the US bond market, including government debt and debt issued by corporations, municipalities, and other entities, according to the World Economic Forum. In contrast, the US national debt, which refers explicitly to the debt owed by the federal government, stands at $34.6 trillion.
While the US bond market continues to dwarf the digital assets space, a recent comparison of the performance of the largest US bond ETFs and Bitcoin ETFs reveals an intriguing trend. Data shared by HODL15Capital, nine of the largest US bond ETFs, with assets totaling around $450 billion, are all currently experiencing either unchanged or negative year-to-date returns. In contrast, the four biggest Bitcoin ETFs have recorded an impressive 44% gain over a similar period, though their assets remain relatively small compared to the bond ETFs.
Disclaimer: The information provided by HODL15Capital is based on data as of Apr. 5.
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