Lehman Brothers Adjustable-Rate Mortgage Index

Definition:

A benchmark index that includes all agency-guaranteed securities with coupons that periodically adjust based on a spread over a published index.

Investing Essentials


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

Term of the Day

Graveyard market

Bear market in which investors who sell are faced with substantial losses, while potential investors prefer to stay liquid; that is, to keep their money in cash or cash equivalents until market... Read More

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