KZT (Kazakhstan Tenge) What is 'KZT' The currency abbreviation or currency symbol for the Kazakhstan tenge (KZT) is for the currency of Kazakhstan. The tenge is made of 100 tiyn and is oft

Harmless Warrant What is 'Harmless Warrant' A warrant that requires the holder to surrender a similar bond when purchasing a new fixed-income instrument. For the warrant to be exercisable,

Yield To Average Life What is 'Yield To Average Life' The yield on a fixed-income security when the average maturity is substituted for the maturity date of the issue. It is particularly u

Hard Call Protection What is 'Hard Call Protection' The period in the life of a callable bond during which the issuing company is not permitted to redeem the bond. Hard call bonds have thi

Yield Equivalence What is 'Yield Equivalence' The interest rate on a taxable security that would render a return equivalent to that of a tax-exempt security, and vice versa, calculated as

Yield Elbow What is 'Yield Elbow' The point on the yield curve indicating the year in which the economy's highest interest rates occur. The yield elbow is the peak of the yield curve, sign

Yield To Maturity (YTM) What is 'Yield To Maturity (YTM)' Yield to maturity (YTM) is the total return anticipated on a bond if the bond is held until the end of its lifetime. Yield to matu

Yield To Worst (YTW) What is the 'Yield To Worst - YTW' The yield to worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting. The YT

Year To Date (YTD) What is 'Year To Date - YTD' Year to date (YTD) refers to the period beginning the first day of the current calendar or fiscal year up to the current date. YTD informati

DefinitionYield burning is a form of financial fraud involving the United States municipal bond market. Yield Burning What is 'Yield Burning' The illegal practice of underwriters marking u