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

Risk-averse

Describes an investor who, when faced with two investments with the same expected return but different risks, prefers the one with the lower risk.

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