3. One of the world's most important financial markets that we will study throughout this book is the market for U.S. Treasury securities. It is important because it is one of the few default-free, highly liquid debt instruments available anywhere in the financial marketplace. To determine the size of this market go to the Treasury Department's Web site at publicdebt.treas.gov and find the Monthly Statement of the Public Debt. How much debt does the U.S. government owe per person in the United States? (See the previous problem on how to find the U.S. population figure.) How much of this debt is held by the public and how much by government agencies? Only a portion of this debt- termed "marketable" is traded daily in the money and capital markets. The remainder is held by the buyer until it matures. How much of this public debt is "marketable"?