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Yellow Book
Colloquial name which was formerly applied to the Listing Authority Rules when supervised by the London Stock Exchange.
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Yield
The income from an investment expressed in various ways. The normal yield of a fixed-interest security is the interest it pays, expressed as a percentage of its par value. The running yield, also known as flat or current yield will depend on the market price of the stock in question. In the case of equities yields are normally calculated on the basis of historic dividend declarations and payments. The yield is therefore not as precise as that which can be calculated on a fixed interest-stock, as the market can only forecast dividend payments.
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Yield Curve
A graph which shows the relationship between the maturities and yields of bonds of the same issuer or with similar credit ratings. An upward trend, with short-term rates lower than long-term rates, is called a positive yield curve while a down trend is a negative or inverted yield curve.
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Yield to Maturity
See Redemption Yield