A Z Bond is a bond which earns interest which is not paid out to the investor. Instead it is added to the principal balance of the Z bond and becomes payable on satisfaction of all prior bond classes.

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Refers to the bond yield calculated using the lower of either the yield to maturity or the yield to call on every possible call date.

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The rate of return an investor receives if a fixed income security is held to maturity.

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The yield to call is the percentage yield of a bond or note held until the call date. The security must be called prior to maturity for this yield to apply.

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A yield calculation used where bonds are retired routinely during the life of the issue. The issuer will buy its own bonds on the open market because of sinking fund requirements. If the bonds are trading below par, this provides automatic price support for these bonds. Hence they will normally trad

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Trading and investing strategies that aim to profit from changes in yield spreads between various sectors of the bond market.

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The difference in yields on debt security issues with the identical maturities but different credit quality. The yield spread is calculated by subtracting the yield of one instrument from another.

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Strategies that aim to capture profit from expected changes in the treasury yield curve.

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The yield curve is a graph showing the range of interest rates available to investors. It is a graphic representation of market yield for a fixed income security plotted against the maturity of the security. The yield curve is positive when long-term rates are hig

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In the current yield, the difference between the convertible and the underlying common.

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