An underlying mortgage, also known as a first mortgage, refers to the original mortgage on a property that remains in place when a wraparound mortgage is created.
The balance of an item of expenditure that has not yet been written off to the profit and loss account, representing the value of goods or services that will provide future economic benefits.
An unpaid dividend is a dividend declared by a corporation's board of directors that has not yet been distributed to shareholders. Once declared, it becomes a corporate liability until paid.
Unrealized profits or losses represent the gains or losses that have occurred but have not yet been actualized through the sale of an asset. These figures remain 'on paper' until the asset is sold, transforming them into realized profits or losses.
An uptrend refers to the general upward direction in the price of a stock, bond, commodity futures contract, or overall market, characterized by higher highs and higher lows over a period.
Usance refers to the period allowed for the payment of a foreign bill of exchange. This term has played a crucial role in international trade finance by specifying the timeframe within which the debtor must settle their account.
Usury refers to the practice of charging an interest rate on loans that exceeds the legal maximum set by state law. The limits on usury can vary based on the type of lender and loan, and federal laws sometimes override these state limits under specific conditions.
A Wallflower stock is a stock that has fallen out of favor with investors and tends to have a low price-earnings ratio, indicating reduced market interest and potentially undervaluation.
The term 'wallpaper' has dual significance: in finance, it refers to worthless securities like bankrupt stocks and bonds, and in computing, it denotes a picture or graphic used as a desktop background.
A 'White-Shoe Firm' is an anachronistic term originating from the 1950s Ivy League culture, typically used to describe venerable, elite, and reputable broker-dealers known for their conservative business practices.
Windfall gains and losses refer to unexpected increases or decreases in value arising from actual or prospective receipts that differ from initial predictions or due to changes in net present value of the receipts.
An abbreviation for warrant, WT is a term used in finance to denote a derivative security. It gives the holder the right, but not the obligation, to purchase a company's stock at a specific price before the warrant expires.
The Yankee Bond Market involves dollar-denominated bonds issued in the United States by foreign banks and corporations. Issuers tap this market when conditions in the U.S. are more favorable compared to other international or domestic bond markets.
A visual representation that plots the yields of bonds with varying maturities. It is an essential tool for understanding market sentiment and interest rate expectations.
Yield to Maturity (YTM) is the total return anticipated on a bond if it is held until it matures. YTM takes into account the bond's current market price, par value, coupon interest rate, and the time to maturity.
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