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Definition:

Describes the N.Y. Federal Reserve Bank's trading desk practice of communicating with primary dealers to establish a market of bids and offers on behalf of the Federal Open Market Committee.

Investing Essentials


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

Term of the Day

Currency hedge

Applies mainly to international equities. Hedging technique to guard against foreign exchange fluctuations (i.e., short Euro l00 mm when holding a long position of Euro l00 mm in stocks).

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