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Financial Terms | |
On the run |
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Definition of On the runOn the runThe most recently issued (and, therefore, typically the most liquid) government bond in a
Related Terms:Accounting liquidityThe ease and quickness with which assets can be converted to cash. Accrual bondA bond on which interest accrues, but is not paid to the investor during the time of accrual. Average maturityThe average time to maturity of securities held by a mutual fund. Changes in interest rates Balloon maturityAny large principal payment due at maturity for a bond or loan with or without a a sinking Bearer bondbonds that are not registered on the books of the issuer. Such bonds are held in physical form by Bondbonds are debt and are issued for a period of more than one year. The U.S. government, local BONDA long-term, interest-bearing promissory note that companies may use to borrow money for periods of time such as five, ten, or twenty years. ![]() BondA long-term debt instrument in which the issuer (borrower) is bondSecurity that obligates the issuer to make specified payments BondA financial asset taking the form of a promise by a borrower to repay a specified amount (the bond's face value) on a maturity date and to make fixed periodic interest payments. BondUsually a fixed interest security under which the issuer contracts to pay the lender a fixed principal amount at a stated date in the future, and a series of interest payments, either semi-annually or annually. Interest payments may vary through the life of bond. bondA debt security issued by a government or company. You receive regular interest payments at specified rates while you hold the bond and you receive the face value when it matures. Short-term bonds mature in less than five years; medium-term bonds mature in six to ten years; and long-term bonds mature in eleven years or greater. BondFixed interest security issued by a corporation or government, having a specific maturity date. Bond agreementA contract for privately placed debt. Bond covenantA contractual provision in a bond indenture. A positive covenant requires certain actions, and Bond-equivalent basisThe method used for computing the bond-equivalent yield. ![]() Bond equivalent yieldbond yield calculated on an annual percentage rate method. Differs from annual Bond-equivalent yieldThe annualized yield to maturity computed by doubling the semiannual yield. Bond Equivalent Yieldbond yield calculated on an annual percentage rate method Bond indentureThe contract that sets forth the promises of a corporate bond issuer and the rights of Bond indexingDesigning a portfolio so that its performance will match the performance of some bond index. Bond pointsA conventional unit of measure for bond prices set at $10 and equivalent to 1% of the $100 face Bond valueWith respect to convertible bonds, the value the security would have if it were not convertible BONDPARA system that monitors and evaluates the performance of a fixed-income portfolio , as well as the Bonds payableAmounts owed by the company that have been formalized by a legal document called a bond. Brady bondsbonds issued by emerging countries under a debt reduction plan. Bull-bear bondbond whose principal repayment is linked to the price of another security. The bonds are ![]() Bulldog bondForeign bond issue made in London. Callable bondA bond that allows the issuer to buy back the bond at a callable bondbond that may be repurchased by the issuer before maturity at specified call price. Canada Savings BondsA bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value. Closing rangeAlso known as the range. The high and low prices, or bids and offers, recorded during the Collateral trust bondsA bond in which the issuer (often a holding company) grants investors a lien on Completion bondingInsurance that a construction contract will be successfully completed. Conflict between bondholders and stockholdersThese two groups may have interests in a corporation that convertible bondbond that the holder may exchange for a specified number of shares. Convertible bondsbonds that can be converted into common stock at the option of the holder. Convertible eurobondA eurobond that can be converted into another asset, often through exercise of Corporate bondsDebt obligations issued by corporations. Cost company arrangementArrangement whereby the shareholders of a project receive output free of Coupon BondAny bond with a coupon. Contrast with discount bond. Current maturityCurrent time to maturity on an outstanding debt instrument. Cushion bondsHigh-coupon bonds that sell at only at a moderate premium because they are callable at a Debenture bondAn unsecured bond whose holder has the claim of a general creditor on all assets of the Deep-discount bondA bond issued with a very low coupon or no coupon and selling at a price far below par Discount bondDebt sold for less than its principal value. If a discount bond pays no interest, it is called a Discount BondA bond with no coupons, priced below its face value; the return on this bond comes from the difference between its face value and its current price. Dollar bondsMunicipal revenue bonds for which quotes are given in dollar prices. Not to be confused with Dollar price of a bondPercentage of face value at which a bond is quoted. dual pricing arrangementa transfer pricing system that allows Equivalent bond yieldAnnual yield on a short-term, non-interest bearing security calculated so as to be EurobondA bond that is (1) underwritten by an international syndicate, (2) offered at issuance EurobondA debt security issued in a market other than the home market of eurobondbond that is marketed internationally. Eurodollar bondsEurobonds denominated in U.S.dollars. Euroyen bondsEurobonds denominated in Japanese yen. Extendable bondbond whose maturity can be extended at the option of the lender or issuer. Flower bondgovernment bonds that are acceptable at par in payment of federal estate taxes when owned by Foreign bondA bond issued on the domestic capital market of anther company. Foreign bond marketThat portion of the domestic bond market that represents issues floated by foreign Full coupon bondA bond with a coupon equal to the going market rate, thereby, the bond is selling at par. General obligation bondsMunicipal securities secured by the issuer's pledge of its full faith, credit, and Global bondsbonds that are designed so as to qualify for immediate trading in any domestic capital market Government bondSee: government securities. Government National Mortgage Association (Ginnie Mae)A wholly owned U.S. government corporation Government securitiesNegotiable U.S. Treasury securities. Government sponsored enterprisesPrivately owned, publicly chartered entities, such as the Student Loan Held-to-Maturity SecurityA debt security for which the investing entity has both the positive High-coupon bond refundingRefunding of a high-coupon bond with a new, lower coupon bond. High-yield bondSee:junk bond. Income bondA bond on which the payment of interest is contingent on sufficient earnings. These bonds are Indexed bondbond whose payments are linked to an index, e.g. the consumer price index. Industrial revenue bond (IRB)bond issued by local government agencies on behalf of corporations. Insured bondA municipal bond backed both by the credit of the municipal issuer and by commercial International bondsA collective term that refers to global bonds, Eurobonds, and foreign bonds. Investment grade bondsA bond that is assigned a rating in the top four categories by commercial credit Involuntary liquidation preferenceA premium that must be paid to preferred or preference stockholders if Issued share capitalTotal amount of shares that are in issue. Related: outstanding shares. Issued sharesThe number of shares that the company has sold to the public. issued sharesShares that have been issued by the company. Junk bondA bond with a speculative credit rating of BB (S&P) or Ba (Moody's) or lower is a junk or high junk bondbond with a rating below Baa or BBB. Level-coupon bondbond with a stream of coupon payments that are the same throughout the life of the bond. LIFO LiquidationA reduction in the physical quantity of an inventory that is accounted for Limited-tax general obligation bondA general obligation bond that is limited as to revenue sources. Liquid assetAsset that is easily and cheaply turned into cash - notably cash itself and short-term securities. Liquid yield option note (LYON)Zero-coupon, callable, putable, convertible bond invented by Merrill Liquid yield option note (LYON)Zero-coupon, callable, putable, convertible bond invented by Merrill Lynch & Co. Liquidating dividendPayment by a firm to its owners from capital rather than from earnings. LiquidationWhen a firm's business is terminated, assets are sold, proceeds pay creditors and any leftovers LiquidationThe process of selling off all the assets of a business entity, settling its liabilities, liquidationSale of bankrupt firm’s assets. Liquidation rightsThe rights of a firm's securityholders in the event the firm liquidates. Liquidation valueNet amount that could be realized by selling the assets of a firm after paying the debt. Liquidation ValueThe net proceeds (after taxes and expenses) of selling the assets liquidation valueNet proceeds that would be realized by selling the firm’s assets and paying off its creditors. LiquidatorPerson appointed by unsecured creditors in the United Kingdom to oversee the sale of an LiquidityA market is liquid when it has a high level of trading activity, allowing buying and selling with LiquidityA measure of the ability of a business to pay its debts as they fall due – see also working capital. LiquidityA term that means nearness to cash; the closer an asset is to becoming cash or a liability is to using cash, the more liquid that asset or liability is. Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |