Sour bond

Definition:

A bond issue that has defaulted on interest or principal payments, and will thus trade at a large discount and a poor credit rating.

Investing Essentials


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

Term of the Day

Proxy Fight

Competition of outside group with management for stockholders' proxies in order to accumulate votes to elect a new board of directors.

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