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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z #

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Yankee Bond - Dollar-denominated bonds issued in the US by foreign banks and corporations when the US market is more favorable than the Eurobond market or domestic markets overseas.
Yankee Bond Market - A market for dollar-denominated bonds issued in the U.S. by foreign corporations, banks and governments.
Yankee Dollar CDs - Negotiable Certificates of Deposit issued in the U.S. by branches and agencies of foreign banks.
Year to Date (YTD) - Total return for a partial year. See Total Return.
Yellow Sheets - Daily publication that provides bid and ask prices of corporate bonds traded over the counter (OTC) and firms that are market makers in the particular bond. Wholesale quote sheet for corporate bonds used by dealers.
Yield - The rate of return on an investment. There are as many computations as there are different yields, such as current yield and yield to maturity.
Yield Curve - A graph linking the term structure of interest rates and showing the general pattern of yields to maturity on Treasury obligations.
Yield Elbow - The point on the yield curve that indicates the year at which the economy's highest interest rates occur.
Yield Spread - The additional yield investors can earn by either investing in bonds with longer maturities or by investing in bonds with lower ratings. The spread is the difference in yield between bonds with short versus long maturities or the difference in yield between high-quality bonds and lower-quality bonds.
Yield to Call - Yield on a bond which will be called by the issuer at the first call date. Important for corporate bonds.
Yield to Maturity - Takes into account the annual dividend, current price, redemption price, and time remaining to maturity. In effect, it is the annual total return for a bond. See Yield.

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Zero Coupon Bonds -  Bonds that do not pay interest but which are instead sold at a substantial discount to par so at maturity they return the face amount. These bonds tend to be more volatile than regular bonds so they are best held to maturity by most investors. They are also called CATS or strips. The longer to maturity, the lower the purchase price and the greater the leverage and sensitivity to interest rates. U.S. Savings Bonds (series EE) are zero bonds sold at 50% of face value that are redeemed for face value at maturity.
Zero Coupon CD - A certificate of deposit that pays interest only upon maturity.
Zero-Minus Tick - A stock trade at a price equal to the preceding trade but lower than the last different price.
Zero-Plus Tick - Term given to a sale made at the same price as the trade that preceded it providing that the previous trade was above the price of the sale it proceeded.