The final project for this course is the creation of a financial report with an IPO analysis. This report will analyze various organized global and domestic exchange markets. It will compare and contrast the performance of different investment products. At the end of the project, you will draw conclusions from the financial markets report to evaluate the company's IPO decision.

In this milestone, you will submit a draft of Risks and Returns (Section IV) of the final project. You will analyze the risks and returns of different investment instruments in the U.S. and non-U.S. markets you selected in Milestone One (NYSE, NASDAQ, London Stock Exchange (LSE), Shanghai Stock Exchange (SSE), Hong Kong Stock Exchange (HKEX), Tokyo Stock Exchange (TSE). Review stock, bond, mutual fund, and commodity performance and their movement over time in these markets. Your analysis should include dividend yields, capital gains, and price relative to intrinsic values. Relate these findings to how they have, or may have, affected the IPO you selected in Milestone One. Finally, you will make a conclusion about each market's performance. You will assess risk versus return when comparing investment vehic,les within the different markets. The readings and resources provided will help you conduct this analysis.

Specifically, address the following critical elements:

1. Risks and Returns. Analyze the risks and returns of different investment instruments in the U.S. and non-U.S. markets you selected. Specifically, you should:
   1. Investment Instruments. Review stock, bond, mutual fund, and commodities performance in the two markets. Be sure to:
      1. Analyze the investment returns in each of the two markets. Include dividend yields, capital gains, prices relative to intrinsic values, and foreign exchange considerations associated with each of the instruments. Use relevant indicators and visual displays to present your findings.
      2. Explain what your analysis of returns suggests about each market's performance. How might that affect decisions on where to list? Justify your response.
      3. Compare and contrast how the different types of instruments move in the two markets over time. Explain the significance of this information on decisions about where to list. Provide specific examples to support your answer. For example, have certain types of instruments historically performed better in one market over another? Have certain types of instruments yielded higher returns more quickly?
      4. Assess the risks versus returns associated with the different types of investment instruments in the two markets. How might these trade-offs affect listing decisions? Support your response with specific examples.
   2. Interest and Inflation. Analyze how interest rates and inflation affect different investment instruments and investor decisions. Give specific examples from the two markets selected to support your answer. For example, how do inflation and interest rates affect stock, bond, and mutual fund returns in each market? How does that, in turn, affect business and individual short- and long-term investment planning?
      1. 1. Taxation. Would tax policies in the two markets make one a better option for IPO listing than the other? Why or why not? Give specific examples to support your response