Futures Glossary
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Yankee market - The foreign market in the United States.

Yield curve - The graphical depiction of the relationship between the yield on bonds of the same credit quality but different maturities: Related: Term structure of interest rates

Yield curve option-pricing models - Also called arbitrage-free option-pricing models, models that can incorporate different volatility assumptions along the yield curve, such as the Black-Derman-Toy model.

Yield curve strategies - Positioning a portfolio to capitalize on expected changes in the shape of the Treasury yield curve.

Yield ratio - The quotient of two bond yields.

Yield spread strategies - Strategies that involve positioning a portfolio to capitalize on expected changes in yield spreads between sectors of the bond market.

Yield to call - For a bond that may be called prior to maturity, the yield to the first call date.

Yield to maturity - The interest rate that will make the present value of a bond's remaining cash flows (if held to maturity) equal to the price (plus accrued interest, if any).

Yield to worst - The bond yield computer by always using the lower of either the yield to maturity or the yield to call on every possible call date.

 
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