Yankee A foreign bond issued in the United States.

Yankee CD A foreign certificate of deposit issued in the United States.

yield Any of several metrics of the income or return to be earned from an investment.

yield curve A graph of yields as a function of maturity.

yield curve risk Term structure risk.

yield to call A bond investment's internal rate of return based on the bond's current dirty price and an assumption that the bond will be called.

yield to first call A bond investment's internal rate of return based on the bond's current dirty price and an assumption that the bond will be called on its first call date.

yield to first par call A bond investment's internal rate of return based on the bond's current dirty price and an assumption that the bond will be called on the first date it is callable at par.

yield to maturity A bond investment's internal rate of return based on the bond's current dirty price and an assumption that all coupon and principal payments are received as scheduled.

yield to worst The minimum of several metrics of yield.

YTM Yield to maturity.

Z bond A type of CMO bond, also called an accrual bond.

zero Zero-coupon bond.

zero-coupon bond A bond that pays no coupons, pays its par value at maturity and is issued at a discount.

zero-coupon curve Spot curve.

zero-coupon rate Spot rate.

zero-coupon Treasury security Treasury strip.