Super Sinker
2020-07-30 14:34
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A bond with long-term coupons but a short-term maturity. Super sinkers are usually home-financing bonds that give bondholders their principal back right away if homeowners prepay their mortgages. In other words, mortgage prepayments are used to retire a specified maturity.
|||Super sinkers are likely to be paid off in a relatively short time. As a result, holders may receive the higher long-term yield after only a short period.
