Traditionally, this has referred to the market for trading long-term debt instruments (those that mature in more than one year). That is, the market where capital is raised. More recently, capital markets is used in a more general context to refer to the market for stocks, bonds, derivatives and other investments. Bloomberg Financial Dictionary
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The market for medium- and long-term securities. Exchange Handbook Glossary
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capital market UK US noun [C]
► FINANCE, ECONOMICS the system of financial organizations from which companies and governments raise money selling stocks, bonds, etc. to investors: domestic/global/international capital markets »
Long-term interest rates, such as those on mortgages, are determined by global capital markets.
»There has been a period of liquidity in the capital market.
»The bonds will be sold on the capital market.
»In the early 1990s the capital market received a tremendous boost from policies of deregulation and liberalization.
Financial and business terms. 2012.