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## Z |
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## zero coupon bond:v. zero-bond |

## Zero Coupon Rate:see zero-coupon rate |

## zero coupon yield curve:v. zero-curve |

## zero-bond:bond without interim payments of interest,Zero-bonds are issued at a discount to the principal amount. The yield results from the difference between the issue price and the redemption value. |

## zero-coupon rate:the yield which result from the investment in a zero-bond, if one holds it till maturity (yield-to-maturity),The advantage of investing in a zero-bond is that the calculated yield can be reached in reality because there is no re-investment-risk, due to the absence of interim coupon payments |

## zero-curve:The zero-curve shows the relation between the maturity and the zero-coupon rate.The zero-curve can be derived from the normal interest curve, by eliminating the interim interest payments. |