Consol

Definition:

A government bond with no maturity . Popular in Great Britain. The formula for valuing these bonds is simple. The consol payment divided by yield to maturity is the price of the bond.

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

Term of the Day

Captive finance company

A company, usually a subsidiary that is wholly owned, whose main function is financing consumer purchases from the parent company.

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