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Definition of Convexity
A measure of the rate of change in duration; measured in time.
The convexity of a bond calculated with cash flows that change with yields.
A bond characteristic such that the price appreciation will be less than the price
property of option-free bonds whereby the price appreciation for a large upward change
An approach to indexing which seeks to Optimize some objective, such
A committee formed in response to SEC chairman Arthur Levitt's initiative to improve the financial
An annual measure of the time value of money that fully reflects the effects of
Interest rate that is annualized using compound interest.
Annualized interest rate on a security computed using compound interest techniques.
Annualized rate of return on a security computed using compound
The strike price in an optional redemption provision plus the accrued interest to the
In an interest rate swap, the date the swap begins accruing interest.
The duration calculated using the approximate duration formula for a bond with an
The weighted average of several exchange rates, where the weights are determined by the extent of our trade done with each country.
The rate of interest actually earned on an investment. It is
Used with SAT performance measures, the amount equaling the net earned spread, or
A measure of the time value of money that fully reflects the effects of compounding.
The gross underwriting spread adjusted for the impact of the announcement of the common
Effective Tax Rate
The total tax provision divided by pretax book income from continuing
a measure of how well an organization’s goals
A loan repayment schedule in which the outstanding principal balance of the loan
Related: net financing cost
negative cash flow
The cash flow from the operating activities of a business
A bond covenant that limits or prohibits altogether certain actions unless the bondholders agree.
A situation in which the price of the MBS moves in the same direction as interest rates.
A term used to describe a situation in which a business combination
Negative Loan Covenants
Loan covenants designed to limit a corporate borrower's behavior
Negative pledge clause
A bond covenant that requires the borrower to grant lenders a lien equivalent to any
Panel on Audit Effectiveness
A special committee of the Public Oversight Board that was created
Theory that anticipated policy has no effect on output.
Magic of diversification
The effective reduction of risk (variance) of a portfolio, achieved without reduction
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