1. Classify the following transactions as taking place in the primary or secondary

markets: (3 points in total)

1. The State of New York sells $350 million municipal bonds to finance a project.
2. IBM issues 100 million of new common stocks.
3. Apple repurchase $10 billion of its own stocks.
4. Fidelity Contrafund sells $5 million of Airbnb stocks.
5. Chipotle issued 8 million of shares in an IPO.
6. A bond fund buys $50 million of previously issued General Electrics bonds.