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Here is a list of common financial terms. Click on the letter that corresponds with the first letter of the financial term to get the definition.
Jumbo CD
A certificate of deposit with a high minimum deposit required, often $90,000 or more. They carry a slightly higher interest rate; however, if the value of the CD plus interest held in the account exceeds $100,000, this excess is not insured by the FDIC. To be safe, you can hold several jumbo CDs at different banks. Junk Bond
A junk bond (or high-yield bond) is one with a S&P credit rating of BB or lower and that carries higher risk of interest or principal default than better rated investment grade bonds. Junk bonds are issued in leveraged buyouts and other takeovers by companies without long track records of sales and earnings, or by those with questionable credit strength.
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