Glossary

A graph of yield over time where the Y-axis plots the interest rate and the X-axis plots time. Generally, yields rise over time with diminishing marginal growth but can become inverted, for example if the market as a whole anticipates a fall in interest rates.

The rate of interest return on a fixed-income security if it is held to maturity from the time of purchase.

A kind of bond, defined insofar as its offer price is lower than its face price. At maturity, the issuer pays face value for the bond and there is no coupon payment, hence "zero coupon." Examples include U.S. Treasury bills, which form the biggest and most liquid debt market in the world. Zero-coupon bonds often have maturities of a year or less and are called bills.

In economic and game theory, a situation in which one person's gain or loss is exactly balanced by the gains or losses of another; when the sum total of gains and losses by all participants equals zero. For example, a large glass of wine poured from a bottle diminishes the amount of wine available for pouring in other glasses.

A metallic chemical element with the symbol Zn and atomic number of 30. Historically, zinc was combined with copper to form the alloy brass. Its main use in industry is zinc plating of steel to improve its corrosion resistance, in the manufacturing of batteries and in brass. Zinc is also used in deodorants, anti-dandruff shampoos and in luminescent paints.