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junk bond

noun

Definitions

  1. A bond (an instrument of debt) which is considered below "investment grade" due to a…

    A bond (an instrument of debt) which is considered below "investment grade" due to a significant risk of default by the issuer. The interest rate is higher in order to compensate holders for that risk.

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sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA