EQUIPMENT TRUST CERTIFICATE Definition

 EQUIPMENT TRUST CERTIFICATE is a bond that is secured by a first claim (lien) on certain equipment. The title to the equipment is held in trust until the bond is paid off.

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BARBELL is a bond management strategy where maturities are clustered at extremes of the yield curve. For example, the price performance of one-year and 30-year bonds, in combination, may exceed that of a l0-year, even though the average maturity of the two strategies may be equal.

ARR is an acronym for Accounting Rate of Return.

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