A statistical generalization of microeconomics has been made in Baaquie (2013). In Baaquie et al. (2015), the market behavior of single commodities was analyzed and it was shown that market data provides strong support for the statistical microeconomic description of commodity prices. The case of multiple commodities is studied and a parsimonious generalization of the single commodity model is made for the multiple commodities case. Market data shows that the generalization can accurately model the simultaneous correlation functions of up to four commodities. To accurately model five or more commodities, further terms have to be included in the model. This study shows that the statistical microeconomics approach is a comprehensive and complete formulation of microeconomics, and which is independent to the mainstream formulation of microeconomics.

The global bond market is the main component of the capital market, being about three times larger than the global equity markets. In 2009, the global bond market (total outstanding debt) was estimated to be $82.2 trillion; the US dominated the bond market with th outstanding U.S. bond debt at approximately $35.2 trillion. Risk-free forward interest rates - and their realization by US Treasury bonds as the leading exemplar - have been studied extensively. The bond market considers US Treasury bonds as being risk-free instruments and consequently have the lowest yields.