Coupon

Also called a dividend, this is the fixed annual interest paid to gilt holders. It’s usually paid in two equal, semi-annual instalments and expressed as a percentage of the nominal value of the gilt.

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Yield to maturity (YTM)

What is yield to maturity and why is it useful?
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S&P 500

Find out what is the definition of the S&P 500 index.
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Over-The-Counter (OTC)

A security that is sold outside of an exchange.
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Key Information Document (KID)

A document issued by an investment fund to help investors determine if it's the right fund for them.
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Free Trade

The other free trade. International trade in which countries allow goods to flow across their borders without imposing import or export taxes.
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Real Estate Investment Trust (REIT)

An investment trust specialised in investing in commercial property such as parking garages or GP offices.
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Bull market

We explain what a 'bull market' means
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Income statement

A summary of a company's income and expenses over a set period of time.
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Accrued interest

The interest earned on a gilt since the last dividend date. When buying a gilt, the buyer pays the accrued interest at the time of a transaction to the seller in addition to the clean price of the gilt
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