Large-capitalization (large-cap)
Refers to a company with a relatively large market capitalization.
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Lehman Brothers Aggregate Bond Index
The Lehman Brothers Aggregate Bond Index is composed of the Mortgage-Backed and Asset-Backed Securities Indices and the Government/Credit Bond Index.
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Lehman Brothers Credit Bond Index
The Lehman Brothers Credit Bond Index includes all publicly issued, fixed-rate, non-convertible investment grade corporate debt; the index is composed of both U.S. and Brady bonds. Until June 30, 2000, this index was known as the Lehman Brothers Corporate Index.
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Lehman Brothers Global Aggregate Bond Index
The Lehman Brothers Global Aggregate Bond Index provides a broad based measure of the international investment grade bond market. The index combines the U.S. Aggregate Index with dollar-denominated versions of the Pan-European Index and the Japanese, Canadian, Australian and New Zealand components of the Global Treasury Index.
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Lehman Brothers Government Bond Index
The Lehman Brothers Government Bond Index is composed of the Treasury Bond and Agency Bond Indices, the 1–3 year Government Index and the 20+ year Treasury Index.
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Lehman Brothers Government/Credit Bond Index
The Lehman Brothers Government/Credit Bond Index represents a combination of the two indices.
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Lehman Brothers Long BAA U.S. Credit Index
The Lehman Brothers Long BAA U.S. Credit Index is a measure of corporate and non-corporate fixed-income securities that are rated investment grade (Baa by Moody’s Investors Service and BBB by Standard & Poor’s) and have at least 10 years to final maturity.
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Lehman Brothers Municipal Bond Index
The Lehman Brothers Municipal Bond Index is a total return performance benchmark for the long-term, investment-grade tax-exempt bond market.
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Leverage
The degree to which an investor is using borrowed money.
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Liability
A Financial obligation, debt, claim, or potential loss. Loans, accounts payable, and mortgages are all liabilities.
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Liquidity
The ability of an asset to be quickly converted into cash without penalty.
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London Inter-Bank Offer Rate (LIBOR)
The British Banker’s Association average of interbank-offered rates for dollar deposits in the London market, based on quotations at 16 major banks.
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Long bond
A bond with a maturity of 10 years or more. This term most often refers to the 30-year U.S. Treasury bond.
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Long term cap gain
The profit realized from the sale of securities held for more than one year.
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Long-term debt
Loans and obligations with a maturity greater than one year.
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