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• See General Obligation Bond.

 
 Embedded terms in definition
 Bond
General obligation bond
 
 Referenced Terms
 Abandon: Refers to the decision not to exercise an option or, sometimes, a clause. It may also refer to the intentional or unintentional lack of use, maintenance or affirmation process about assets. These assets may include securities, bank accounts, refunds, trademarks and so on. In such cases the property can Go to a jurisdiction such as a state or federal government.

 Bond rating: Denotes the safety of the bonds. Probability of default generally increases as the bond ratings decline. Bottom falls out as we Go to below investment grade bonds. The highest bond rating is AAA followed by AA, A, and BBB. The lowest investment quality bond rating is BBB. All ratings below BBB are junk bonds. These are BB, B, and CCC. D denotes bonds that have already defaulted.An evaluation of the possibility of default by a bond issuer, based on an analysis of the issuer's financial condition and profit potential. Bond rating services are provided by, among others, Standard & Poor's 500, Moody's Investors Service and Fitch Investors Service.

 Credit crunch: Occurs when credit availability is so restricted that normal economic or financial activity is adversely impacted. It is a more extreme case of credit rationing which has tightened.If depositors in one location (say Michigan) cannot provide deposits to fund loans in another location (say California), many Good loans may go unfunded. This is a credit crunch.

 Currencies and major foreign market hedge funds: Invest in securities and derivatives which Go across borders. These funds try to capitalize on interest rate differentials between currencies, varying investment climates for different countries, relative volatilities in equity or credit markets, and variations of the other hedge fund themes.

 Equitization: Convert into equity. When mutual fund managers invest their cash in Treasury Bill and Go long in S&P500 futures contract, they in effect have the liquidity of the cash yet the returns to the stock market. This is called equitization.

 
 Related Terms
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