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Nullkuponkurve

English translation: zero-coupon yield curve

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Nullkuponkurve
English translation:zero-coupon yield curve
Entered by: Ralf Lemster

16:25 Dec 1, 2002
German to English translations [PRO]
Bus/Financial - Investment / Securities
German term or phrase: Nullkuponkurve
Is this zero coupon curve, or zero bond curve? Thanks in advance.

Mit Hilfe von Forward Rates können Anlage- und Finanzierungsentscheidungen bewertet werden, die in der Zukunft liegen. Bei den Forward Rates handelt es sich um arbitragefreie Zinssätze, die anhand der aktuellen Zinsstrukturkurve (z.B. der Swapkurve) bzw. der Nullkuponkurve und deren Abzinsungsfaktoren berechnet werden.
Natalie Wilcock (X)
Local time: 19:51
zero coupon curve
Explanation:
would be sad, if the bonds were zero; but the coupons; that's fine (as far as I know, not allowed in Germany).
Greetings,

Nikolaus

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Note added at 2002-12-01 16:37:31 (GMT)
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http://about.reuters.com/finsoft/communs/newsletters/Newslet...

http://www.derivs.com/deriveddata.htm

http://www.basispoint.com/courses/BondAnalysisLevel22002.htm
Selected response from:

Elisabeth Ghysels
Local time: 19:51
Grading comment
Thank you very much. Regards.
3 KudoZ points were awarded for this answer



Summary of answers provided
5 +4zero coupon curve
Elisabeth Ghysels
5added explanation
Ralf Lemster


  

Answers


9 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
zero coupon curve


Explanation:
would be sad, if the bonds were zero; but the coupons; that's fine (as far as I know, not allowed in Germany).
Greetings,

Nikolaus

--------------------------------------------------
Note added at 2002-12-01 16:37:31 (GMT)
--------------------------------------------------

http://about.reuters.com/finsoft/communs/newsletters/Newslet...

http://www.derivs.com/deriveddata.htm

http://www.basispoint.com/courses/BondAnalysisLevel22002.htm


    Reference: http://www.numa.com/bookshop/books/3567.htm
Elisabeth Ghysels
Local time: 19:51
PRO pts in category: 3
Grading comment
Thank you very much. Regards.

Peer comments on this answer (and responses from the answerer)
agree  Chris Rowson (X): Regardless of whether they are allowed or not, bonds with zero coupons are used as a reference model.
11 mins
agree  Per Incuriam
19 mins
agree  Eva Blanar
24 mins
agree  Ralf Lemster: but "zero yield curve" is more common
41 mins
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5
added explanation


Explanation:
Just to add some background. The zero yield curve is a curve that is based exclusively on the yields of zero-coupon bonds (which, BTW, are perfectly acceptable in Germany...). The advantage of the zero curve - compared to the government bond curve, for example - is that the duration or zero-coupon bonds is identical to their maturity, and that these bonds do not involve reinvestment risk for the coupon payments. This makes the zero curve easier to use for risk management purposes.

Ralf Lemster
Germany
Local time: 19:51
Specializes in field
Native speaker of: German
PRO pts in category: 475
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