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The Z-spread of a bond is the number of basis points (bp, or 0.01%) that one needs to add to the Treasury yield curve (or technically to Treasury forward rates) so that the Net present value of the bond cash flows (using the adjusted yield curve) equals the market price of the bond (including accrued interest). The spread is calculated iteratively.
For an MBS, the word "option" in option-adjusted spread relates primarily to the right of property owners, whose mortgages back the security, to prepay the mortgage amount. Since mortgage borrowers will tend to exercise this right when it is favourable for them and unfavourable for the bond-holder, buying an MBS implicitly involves selling an ...
The fixed spread to Libor paid by the asset swap seller is known as the asset swap spread and is set at a break-even value so the net value of the sale of the bond plus the swap transaction is zero at inception.
The Z-18F anti-submarine warfare (ASW) version was undergoing testing by the end of August 2014. [4] The army transport Z-18A first appeared in Chinese state media in December 2014, and reportedly underwent high-altitude testing on the Tibetan Plateau in January 2015. [2] The Z-18A reached an altitude of 9,000 m (29,528 ft) during testing. [1]
The Interpolated Spread, I-spread or ISPRD of a bond is the difference between its yield to maturity and the linearly interpolated yield for the same maturity on an appropriate reference yield curve. The reference curve may refer to government debt securities or interest rate swaps or other benchmark instruments, and should always be explicitly ...
Guinness Draught (4.2% ABV) Guinness, an Irish Dry Stout, is a fantastic example to disprove a common misconception, that dark beers are higher in alcohol.
The FC/ASW (Future Cruise/Anti-Ship Weapon) or FMAN/FMC in French (Futur Missile Anti-Navire/Futur Missile de Croisière), also dubbed FOSW (Future Offensive Surface Weapon) and SPEAR 5, is a next generation missile programme launched by France and the United Kingdom in 2017 to succeed their jointly-developed Storm Shadow/SCALP as well as their respective Exocet and Harpoon anti-ship missiles.
Over the past year, a number of high-profile companies have done about-faces on diversity, including Meta (), Walmart (), McDonald's (), Lowe’s (), Ford (), Tractor Supply (), and John Deere ...