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Zero-Spread Volatility

What is the 'Zero-Volatility Spread - Z-spread' The Zero-volatility spread (Z-spread) is the constant spread that makes the price of a security equal to the present value of its cash flows

Z-Tranche

Z-Tranche What is 'Z-Tranche' A special type of bond class in a sequential pay collateralized mortgage obligation. This class of bond does not receive any interest or principal payments un