The market used for trading Spain's public debt (central government, some regional governments, and some public-sector organizations) and other securities. It is part of the Madrid Stock Exchange, which is the largest securities market in Spain and one of the four members of the Bolsas y Mercados Españoles, an organization designed to streamline Spain's four major securities exchanges (Madrid, Valencia, Barcelona and Bilbao). Taobiz explains Madrid Fixed Income Market .MF Spain's 1988 incorporation into the European Monetary System transformed the Spanish Stock Exchange. In 1993 the Madrid Stock Exchange switched to all-electronic trading for fixed-income securities. In 1999 Spain's securities markets began trading in euros. Its regulatory body is the Spanish Stock Exchange Commission.
A company or individual who owes money. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower. If the debt is in the form of securities, such as bonds, the debtor is referred to as an issuer. |||It is not a crime to fail to pay a debt. Except in certain bankruptcy situations, debtors can choose to pay debts in any priority they choose. But if you've failed to pay a debt, you have broken a contract or agreement between you and a creditor. Generally, most oral and written agreements for the repayment of consumer debt - debts for personal, family or household purposes secured primarily by a person's residence - are enforceable. However, most debts for business or commercial purposes must be in writing to be enforceable. If the agreement requires the debtor to pay a certain amount of money, then the creditor does not have to accept a lesser amount. Also, if there was no actual agreement but the creditor has loaned money, performed services or provided the debtor with a product, that debtor must pay the creditor.
A CEO or managerial team whose ability to lead a company is highly suspect. Taobiz explains Mad Hatter This term refers to one of the many strange characters in Lewis Carroll's "Alice's Adventures in Wonderland". At the tea table, Alice meets the Mad Hatter, who is eternally caught in tea time and constantly quizzing Alice with nonsensical and unanswerable questions.
An investment technique used to eliminate the risk of a portfolio of assets. In most cases, this would mean taking a position that offsets the whole portfolio. But this technique is difficult in practice because there is rarely one asset that will offset the risk of a broader portfolio, so applying a macro-hedge most likely requires taking an offsetting position in each individual asset. Taobiz explains Macro-Hedge Here's an example of a macro-hedge: an index-fund manager believes there will be a loss in the index in the upcoming period. To eliminate the risk of a downward turn in the index, the manager can take a short position in the index fund's futures market that will lock in a price for the index.
A refinancing deal in which a debt holder gets an equity position in exchange for cancellation of the debt. |||There are several reasons why a company may want to swap debt for equity. For example, a firm may be in financial trouble and a debt/equity swap could help avoid bankruptcy, or the company may want to change capital structure to take advantage of current stock valuation.Covenants in the bond indenture may prevent a swap from happening without consent.
When a firm retires all or a portion of its debt securities by making an offer to its debtholders to repurchase a predetermined number of bonds at a specified price and during a set period of time. Firms may use a debt tender offer as a mechanism for capital restructuring or refinancing. |||For example, a firm may have issued bonds during a time when interest rates were high. If interest rates have come down significantly, the firm may want to conduct a new bond offering at a lower rate and then use the proceeds to conduct a debt tender offering in order to buy back the more expensive bonds as a way of cutting costs.Furthermore, a highly leveraged firm may also wish to use its retained earnings to buy back bonds in order lower its debt-to-equity ratio. Doing so will give the company a greater margin of safety against bankruptcy because the company will be paying less interest.
A technical correction toward an area of support that occurs on lower-than-average volume. The low volume is a signal to traders that the trend is not reversing and that it is only the weak longs looking to lock in a quick profit. Frequent moves that occur in the opposite direction of a trend, which are accompanied by low volume, are normal fluctuations and generally deemed to be insignificant. On the other hand, a large spike in volume in the opposite direction of the trend could be used to signal that the smart money is starting to look for the exits and that the trend is getting ready to reverse. Taobiz explains Low Volume Pullback Many technical traders will try to enter a position on the short-term weakness seen in a low volume pullback because it increases the risk/reward ratio as stop losses are closer to major support levels. It is common that large changes in volume will precede a price move. Traders will use indicators, such as the on-balance volume (OBV) to find situations where the trend and the volume are diverging.
Cash required over a given period for the repayment of interest and principal on a debt. |||Your monthly mortgage payments are a good example of debt service.
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