561 entries
Fixed income
Treasury securities, corporate bonds, structured credit, money-market instruments, credit ratings.
- Yield Curve Steepness as a Recovery Signal Why a steep yield curve typically follows recessions and what historical evidence shows about upward-sloping curves as a signal for economic recovery and growth.
- Yield Curve Twist: When Short and Long Rates Move in Opposite Directions A yield curve twist occurs when short and long-term bond rates move in opposite directions. Learn how this differs from parallel shifts and why it matters.
- Yield Pickup The incremental yield gained by swapping from one bond into a higher-yielding substitute—a staple of portfolio management.
- Yield Spread Measures Methods for quantifying the excess yield on a corporate bond relative to its benchmark, accounting for embedded options and curve shape.
- Yield to Call Yield to call is the return an investor earns on a callable bond if it is called before maturity and redeemed at the call price.
- Yield to Call vs Yield to Maturity: What Callable Bond Investors Need to Know How yield to call differs from yield to maturity for callable bonds and why the lower number is the conservative return estimate.
- Yield to Call: How to Calculate It for Corporate Bonds Yield to call is the annualized return if a bond is redeemed at its first call date; calculation is identical to yield to maturity but uses call price and call date.
- Yield to Maturity (YTM) Yield to maturity is the total return an investor earns on a bond if it is held to maturity, accounting for coupon payments and the difference between the purchase price and face value.
- Yield to Maturity vs Current Yield: Key Differences Yield to maturity and current yield are two distinct measures of bond returns; YTM assumes you hold to maturity and includes capital gains/losses, while current yield ignores them.
- Yield to Maturity: Semiannual vs Annual Compounding Understand why yield to maturity differs with semiannual vs annual discounting, and how to convert between the two compounding conventions.
- Yield to Put The yield an investor receives if they exercise a put option embedded in a bond at the earliest opportunity.
- Yield to Worst The lowest possible yield an investor can receive on a callable or putable bond, accounting for all early-redemption scenarios.
- Yield to Worst on a Callable Bond Yield to worst on a callable bond accounts for call risk. Learn why it's the most conservative yield metric and how to calculate it across multiple call dates.
- Yield to Worst on Corporate Bonds Yield to worst is the lowest yield a bondholder can earn if the bond is called, put, or matures early. It matters more than yield-to-maturity for callable corporate bonds.
- Z-Bond An accrual tranche in a collateralized mortgage obligation that receives no cash payments until all senior tranches are fully retired, with accrued interest added to principal.
- Z-Spread The constant basis-point spread added uniformly to every point on the Treasury spot curve so a bond's discounted cash flows match its market price.
- Z-Spread vs OAS: What the Difference Reveals Z-spread vs OAS difference: OAS strips embedded option value from Z-spread, isolating true credit and liquidity risk in callable and putable bonds.
- Zero-Coupon Bond A zero-coupon bond is a debt security that makes no periodic interest payments and instead is sold at a deep discount to its face value, with the entire return realized at maturity.
- Zero-Coupon Bond Economics No interest payments; pure discount instrument sold at deep discount to face value.
- Zero-Coupon Corporate Bond A corporate bond that makes no periodic interest payments but instead is sold at a deep discount and repays par value at maturity.
- Zero-Coupon Yield Curve Construction Zero-coupon yield curve construction extracts spot rates from coupon bond prices using bootstrapping, revealing the true discount rate for any maturity.
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