Bond market association

Definition:

An international trade association of broker/dealers and banks in US government and federal agency securities, municipal securities, mortgage-backed securities, and money market securities.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Relative yield

Often refers to a yield on a security relative to the yield on a benchmark security (i.e. a ratio). It is more common to consider a yield spread which is just the difference in two yields.

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