A debt instrument that pays no interest until a date specified in the future. |||Zero-coupon bonds are a form of deferred interest bond.
A finanicial term for the effect of certain internal or market forces on a company's gross, operating or net margins. If something happens to make a company's costs rise or revenues fall, margins will become compressed, reducing net earnings. Things that can cause margin pressure include: 1. When a new competitor enters the business and increases its product offering or lowers its costs 2. When commodity costs rise or other costs within the supply chain are rising 3. When increased regulatory controls are imposed on the company or industry 4. When new legislation is introduced that fundamentally changes the markets in which the company competes 5. When internal production problems or delays arise 6. When rising selling, general and administrative expense (SG&A) costs occur without a proportional rise in revenue Taobiz explains Margin Pressure Margin pressure can be related to macroeconomic events, such as rising oil prices, or company-specific events, such as a loss of market share. Investors expect margins to fluctuate over time, but severe margin pressures, or those that could exist for a long time, will usually drag down a stock even in advance of an actual earnings decline.
The period after the issue of callable security during which it cannot be called by the issuer. |||Different types of securities will have a call option allowing the issuer to buy them back at a predetermined price. The issuer cannot call the security back during the deferment period, which is uniformly predetermined by the underwriter and the issuer at the time of issuance.For example, European options have a deferment period for the life of the option (they can be called only on expiry). Most municipal bonds are callable and have a deferment period of 10 years.
An observational theory stating that in certain stocks at certain times, there is a buildup of selling pressure. This occurs as a combined result of sales and a strong wish to sell among those who still hold the stock but fear that selling it may cause further declines. Depending on the overall liquidity in the stock, a market overhang can last for weeks, months or longer. Market overhang usually relates to trading in one security but can also apply to larger areas of the market, such as an entire sector. Taobiz explains Market Overhang Market overhang is most often felt and created by institutional investors, who may have a large block of shares they wish to sell and are aware of high selling interest across the market for the stock. Another scenario arises when a large shareholder is thought to be looking at selling his or her stake. This creates an overhang in the stock, which prevents investors from buying the stock until the large shareholder is done selling his stake. Market overhang can also develop in a poorly-performing IPO when the lockup period ends and insiders look to unload their recently-acquired shares.
A common phrase meaning the market (or a major market index) is trading higher than the previous closing price. Taobiz explains Market Is Up The opposite would be the "market is down" or the "market is off".
A provision that voids a bond or loan when the borrower sets aside cash or bonds sufficient enough to service the borrower's debt.Also referred to as "defease." |||The borrower sets aside cash to pay off the bonds, therefore the outstanding debt and cash offset each other on the balance sheet and don't need to be recorded.
A digested security is a financial instrument which an investor has bought and intends to hold for a long period of time. The security is thus effectively taken out of trading. If a large number of investors choose to digest a particular security, then it can result in a relatively illiquid market for that security, making it difficult to buy or sell. |||The illliquidity caused by digested securities poses a frequent problem in certain markets. This dilemma is particularly prevalent in the bond market, for example, where many bonds end up in the hands of investors who wish to hold them until maturity. It is common for a particular bond issue to experience a steadily decline in trading volume, as the securities are gradually digested by investors who wish to hold them to maturity.
A common phrase meaning that the market (or a major market index) is trading below the previous closing price. Taobiz explains Market Is Off The opposite would be the "market is up".
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