2011-11-29 10:19:08 版主
A bond is a debt investment whereby the investor loans money to an entity (company or government) that needs funds for a defined period of time at a specified interest rate. In exchange for your money, the entity will issue you a certificate, or bond, that states the interest rate (coupon rate) you are to be paid and when your loaned funds are to be returned (maturity date). Interest on bonds is usually paid every six months (semiannually). Corporate bond: A bond issued by a corporation. Municipal bond: A bond issued by a municipality. These are generally tax free, so you pay no taxes on the interest you earn, but the interest rate is usually lower than for a taxable bond. Treasury bond: A bond issued by the U.S. Government. These are considered safe investments because they are backed by the taxing authority of the U.S. government, and the interest on Treasury bonds is not subject to state income tax. T-bonds have maturities greater than ten years, while notes and bills have lower maturities. Treasury note: The only difference between a Treasury note and a Treasury bond is that a Treasury note is issued for a shorter time, usually two to five years. Treasury bill: This is held for a shorter time than either a Treasury bond or a Treasury note--usually three, six, or nine months to two years. Interest on T-bills is paid at the time the bill matures, and the bills are priced accordingly. Zero-coupon bonds: A bond that generates no periodic interest payments but is issued at a discount from face value. The return is realized at maturity.
债券是一种债务投资，投资者以特定的利率及时期向需要资金的实体（公司或政府）借贷，投资者可获得一份证书，即债券，其中列明投资者可获得的利率（息票）及偿还资金的日期（到期日）。债券的利息一般每六个月（半年）支付一次 企业债券：一家企业发行的债券 市政债券：市政府发行的债券，一般属于免税债券，即投资者无需就收取的利息支付税项，但利率一般较需缴税债券低 美国国库券/政府债券：美国政府发行的债券，被认为是安全的投资，因为债券获得美国税务局担保。美国国库券的利息无需缴付所得税。国库券的年期一般为10年以上，而美国政府票据的年期较短 美国政府票据：政府票据与国库券的唯一分别在于时期，政府票据的年期一般为2至5年 美国短期国库券：时期比国库券及政府票据短，一般为3、6或9个月至2年。短期国库券的利息在到期时支付，价格而根据利息而定 零息票债券：无定期利息的债券，但发行价格相对面值有折让，在到期时才可实现回报
Bond Anticipation Note (BAN)
Short term interest bearing securities issued in the anticipation of larger approaching bond issues.
Bond Equivalent Yield (BEY)
A calculation for restating semi-annual, quarterly, or monthly discount-bond or note yields into an annual yield. For a fixed income security with a par value of $1000, the calculation is as follows: 1000-Purchase Price Purchase Price
A mutual fund whose investment objective is to provide stable income with a minimal risk. It invests in income-producing instruments, which may include corporate, government, or municipal bonds.
The same as a stock option except the underlying asset is a bond.
An evaluation of the possibility of default by a bond issuer. It is based on an analysis of the issuer’s financial condition and profit potential. Bond rating services are provided by, among others, Standard & Poor’s, Moody’s Investors Service, and Fitch Investors Service.
对债券发行人违约可能性的评估。评估根据发行人的财务状况及利润潜力。提供债券评级服务的机构包括标准普尔(Standard & Poor’s)、穆迪投资者服务(Moody’s Investors Service) 以及Fitch投资者服务 (Fitch Investors Service)
A strategy whereby an investor sells a bond and at the same time purchases a different bond with the proceeds from the sale.
The process by which the offer price of an IPO is based on actual demand from institutional investors.
The managing or lead underwriter who maintains the books of securities sold for a new issue.
1. The value at which an asset is carried on a balance sheet. In other words, the cost of an asset minus accumulated depreciation. 2. The net asset value of a company. Calculated by total assets minus intangible assets (patents, goodwill) and liabilities. 账面价值
1. 资产在资产负债表上的价值，换言之，相等于资产的成本减累计折旧2. 公司的净资产值，相等于总资产减无形资产（专利、商誉等）及负债
Book Value Per Common
A measure used by owners of common shares within a firm to determine the level of safety associated with each individual share after all debts are paid accordingly.
Break Even Point (BEP)
The point at which gains equal losses. Or, the market price that a stock must reach for option buyers to avoid a loss if they exercise. For a call, it is the strike price plus the premium paid. For a put, it is the strike price minus the premium paid.
收益相等于损失的一点或，期权买方要在无损失的情况下行使期权股价必须达到的水平。对于买入期权而言，相等于行使价格+已付溢价。对于出售期权，相等于行使价格 - 已付溢价
method of financing, used by companies before their IPO, to obtain necessary cash for the maintenance of operations.
A short-term loan that is used until a person or company can secure permanent financing.
An index designed to reflect the movement of the entire market.
Broad-Based Weighted Average
An anti-dilution provision used for the benefit of existing preferred shareholders when additional offerings are made by the corporation. The broad-based weighted average accounts for all equity previously issued and currently undergoing issue.
A speculative market or stock in which the values rise very rapidly and then fall sharply.
An estimation of an organization’s revenue and expenses over a specified period of time.