The relevance of the study of the state of the debt market is predetermined by the development of alternative forms of financing to bank lending. By placing bonds, the issuer actually borrows money from investors. Unlike stocks, the risks on bonds are significantly lower. The amount of income, as a rule, is known in advance, and you can lose the invested money only if the issuer of the paper goes bankrupt. Research methods: the method of a systematic approach, deduction, analysis and synthesis, general scientific research methods, as well as methods of functional analysis. Results: Analysis of the state of the market in the Republic of Belarus showed that there is an active expansion of the debt market. The bond market is the most developed segment of the domestic stock market.