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YTM: The common abbreviation for yield to maturity, which is the annual rate of return on a financial asset that is held until maturity. Yield to maturity depends on both the coupon rate and the face or par value paid at maturity. If the selling price of a financial asset is equal to its par value, then the yield to maturity is equal to the current yield and the coupon rate. However, if the asset is selling at a discount, then the yield to maturity exceeds the current yield, which is greater than the coupon rate. And if the asset is selling at a premium, then the yield to maturity is less than the current yield, which is below than the coupon rate.
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PERFECTLY ELASTIC An elasticity alternative in which infinitesimally small changes in one variable (usually price) cause infinitely large changes in another variable (usually quantity). Quantity is infinitely responsive to price. Any change in price, no matter how small, triggers an infinite change in quantity. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Perfectly elastic is one of five elasticity alternatives. The other four are perfectly inelastic, relatively elastic, relatively inelastic, and unit elastic.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for letters from the Internal Revenue Service.
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John Maynard Keynes was born the same year Karl Marx died.
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"In a restless, creative business with an emphasis on experiment and development, ideas are the lifeblood." -- Richard Branson, Virgin Group founder
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SFA
Securities and Futures Authority (UK)
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