英文名称:Bond Option 中文名称:债券期权以债券为标的物的期权。债券期权的买入者有权在期权到期日或之前,按事先约定的价格和数量买卖某种债券;而债券期权的卖出者必须无条件接受期权买入者的选择。 An option contract in which the underlying asset is a bond. Other than the different characteristics of the underlying assets, there is no significant difference between stock and bond options. Just as with other options, a bond option allows investors the ability to hedge the risk of their bond portfolios or speculate on the direction of bond prices with limited risk. A buyer of a bond call option is expecting a decline in interest rates and an increase in bond prices. The buyer of a put bond option is expecting an increase in interest rates and a decrease in bond prices.
英文名称:Bond Market 中文名称:债券市场债券市场是发行和买卖债券活动的总和,是金融市场的一个重要组成部分。e.g. Palash R. Ghosh has been writing about U.S. and international equity and bond markets for the past 17 years. The environment in which the issuance and trading of debt securities occurs. The bond market primarily includes government-issued securities and corporate debt securities, and facilitates the transfer of capital from savers to the issuers or organizations requiring capital for government projects, business expansions and ongoing operations. Most trading in the bond market occurs over-the-counter, through organized electronic trading networks, and is composed of the primary market (through which debt securities are issued and sold by borrowers to lenders) and the secondary market (through which investors buy and sell previously issued debt securities amongst themselves). Although the stock market often commands more media attention, the bond market is actually many times bigger and is vital to the ongoing operation of the public and private sector.
英文名称:Bulldog Bond 中文名称:猛犬债券指非英国的公司或政府在伦敦发行的以英镑来计价的债券。 A sterling denominated bond that is issued in London by a company that is not British. These sterling bonds are referred to as bulldog bonds as the bulldog is a national symbol of England.
英文名称:Bearer Form 中文名称:凭票即付形式/无记名形式一种不记名的证券发行和流通方式,票面本身不记载任何与所有者有关的信息,持有就是唯一的所有权证明,持票即可获得支付。与之相对的是记名形式(registered form)。eb1619e81e59668d2db8098284f6daa5e.g. Holders of debentures in bearer form are advised to contact Computershare at 1-800-245-4053 for instructions regarding how to deposit their debentures. A security not registered in the issuing corporation's books but that is payable to its bearer (the person possessing it). Securities can be issued in two forms: registered or bearer. Registered form means the issuing firm keeps records of a security's owner and mails out payments to him or her. Bearer form means the security is traded without any record of ownership, so physical possession of the security is the sole evidence of ownership. Most securities issued today are in registered form. A bearer bond, also known as a coupon bond, has coupons that must be clipped from the security and presented in order to receive interest payments. The issuer will not remind the bearer of coupon payments. A bearer stock certificate is negotiable without endorsement and is transferred upon delivery.
英文名称:Bankruptcy Risk 中文名称:破产风险指公司资不抵债或无力偿债的风险。股票或债券投资者在投资一家公司时,除了考虑收益率,通常也要分析其债务状况和偿还能力,评估破产风险,也称insolvency risk。e.g. What we want to do is focus on companies that we believe are well down the line in terms of bankruptcy risk. The risk that a company will be unable to meet its debt obligations. Often referred to as "default" or "insolvency risk". This is a risk that both equity- and bondholders take when deciding to invest in a company. Aside from looking at overall profitability, analyzing a company's debt obligations and ability to repay, agencies like Moody's and Standard & Poor's attempt to determine this risk by giving bond ratings.
英文名称:Bill of Exchange 中文名称:汇票出票人签发,委托付款人在见票时或者在指定日期无条件支付确定的金额给收款人或者持票人的票据。 A non-interest-bearing written order used primarily in international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date. Bills of exchange are similar to checks and promissory notes. They can be drawn by individuals or banks and are generally transferable by endorsements. The difference between a promissory note and a bill of exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation. If these bills are issued by a bank, they can be referred to as bank drafts. If they are issued by individuals, they can be referred to as trade drafts.
英文名称:Coupon Bond 中文名称:有息票债券指按期支付利息的附有息票的债券。债券持有人在债券到期期限内,可以定期凭债券上所附息票,向发行机构支取债券利息。e.g. The 30-year strip even lags the 30-year coupon bond, since the latter has a duration of 15 years. A debt obligation with coupons attached that represent semiannual interest payments. Also known as a "bearer bond".No record of the purchaser is kept by the issuer, and the purchaser's name is not printed on the certificate.
英文名称:Catastrophe Bond 中文名称:灾难债券一种收益较高的债务工具,发行此债务工具主要是为了应付出现自然灾害的资金需求。此种债务工具一般设有特殊条款,当发行人遭受既定的自然灾害时,其偿还责任可延期甚至豁免。eb1619e81e59668d2db8098284f6daa5e.g. Life reinsurance operations also have a financial services unit that specializes in more arcane financial transactions, including the launch of novel and higher risk instruments, such as catastrophe bonds. A high-yield debt instrument that is usually insurance linked and meant to raise money in case of a catastrophe such as a hurricane or earthquake. It has a special condition that states that if the issuer (insurance or reinsurance company) suffers a loss from a particular pre-defined catastrophe, then the issuer's obligation to pay interest and/or repay the principal is either deferred or completely forgiven. Advantages of CAT bonds are that they are not closely linked with the stock market or economic conditions and offer significant attractions to investors. For example, for the same level of risk, investors can usually obtain a higher yield with CAT bonds relative to alternative investments. Another benefit is that the insurance risk securitization of CATs shows no correlation with equities or corporate bonds, meaning they'd provide a good diversification of risks.