PICKUP Definition

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PICKUP, in securities, is the higher yield obtained in a swap transac­tion-that is, the improved yield on the item being purchased relative to the selling yield on the security being liquidated.

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EXTERNAL is from or between other countries, e.g. external commerce; or, happening, arising or located outside or beyond a company, e.g. external influences.

GENERAL OBLIGATION BOND (GO) is a municipal bond that represents the full taxing power of the issuing authority behind the repayment of principal and interest.

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