On Monday, I divided the world’s equity markets into relative market-value weights for some perspective on asset allocation. The global bond market deserves no less, and so I dive into the numbers below. But first, a caveat. Categorizing the planet’s supply of fixed-income components is complicated. Equities, by contrast, are a breeze. In the interest of brevity here, I’m streamlining the task, although no one should confuse the data that follows as the final world on defining the global bond market. For instance, I’m leaving out US munis and collateralized debt the world over. Those are subjective choices, but then again that’s par for the course when it comes to setting up rules for investing in bonds. There’s relatively little debate when it comes to establishing benchmarks for equities. Bonds, by contrast, are another matter entirely.