Last week I sliced up the allocations for the global equity markets as of May 31, and today I do the same for fixed-income. But first, the standard caveat. Categorizing the global bond market’s components is tricky. Equities, by contrast, are relatively transparent. For simplicity, I’m streamlining the fixed-income analysis, although no one should confuse the numbers below as the last word on the global bond market mix. For instance, I’m leaving out US munis and collateralized debt.