Glossary

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J

Junk bond
A high-risk, non-investment-grade bond with a low credit rating, usually BB or lower; as a consequence, it usually has a high yield. Opposite of investment-grade bond.

JASDAQ
Japanese Association of Securities Dealers Automated Quotation System

J-curve
Theory that says a country’s trade deficit will initially worsen after its currency depreciates because higher prices on foreign imports will more than offset the reduced volume of imports in the short-run