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Fixed Income & Credit terms
Yields, curves, spreads and the ratings agencies.
Bond duration A measure of a bond's price sensitivity to changes in interest rates, expressed in years. Credit spread The extra yield a bond offers over a comparable risk-free benchmark, compensating for credit risk. Loss given default (LGD) The share of an exposure a lender expects to lose if a borrower actually defaults, after recoveries. Probability of default (PD) The estimated likelihood that a borrower fails to make required payments on a debt within a given time horizon. Yield curve A plot of bond yields across different maturities, most often for government debt of a single issuer.