| Yard |
Market slang for a billion. |
| Yield |
A measurement of the annual return on an investment. |
| Yield change |
One day's change in the futures' interest rate - equal and opposite to change in the settlement price. |
| Yield curve |
A chart that graphically depicts the yields of different maturity bonds of the same credit quality and type. Yield is depicted on the vertical axis and maturity on the horizontal axis. The yield curve is also called the "Term Structure of Interest Rates." A normal yield curve is upward sloping, with short-term rates lower than long-term rates. An inverted yield curve is downward sloping, with short-term rates higher than long-term rates. A flat yield curve occurs when short-term rates are the same as long-term rates. |
| Yield settlement |
The interest rate implied by the settlement price. |