Typically, in the context of pricing debt securities, the difference in percentage or basis points between the yield of a non-Treasury debt security being priced and the yield of a comparable Treasury security. Also refers generally to the difference in yields or coupon rates between any two debt securities. Debt securities issued by the U.S. Treasury that are backed by the full faith and credit of the U.S. government. A statistical measure of the variability over time of the price or yield of a security. The rate of return on an investment over a given time, expressed as an annual percentage rate.
Yield is affected by the price paid for the investment as well as the timing of principal payments.
The relationship between individual yields and maturities for the same issuer's securities. Usually refers to the yield curve for U.S. Treasury securities. The internal rate of return of a series of cash flows at a given time. Usually said of a debt security.