Word: accrual
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Dates: during 1990-1999
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...aggressive investors who own "zeros," which rise and fall about twice as fast as regular T-bonds. Zeros, up 9.3% in the third quarter, aren't as exotic as they sound. You may know them as TIGERS (Treasury income growth receipts) from Merrill Lynch or CATS (certificates of accrual on Treasury securities) from Salomon Smith Barney. Basically, a zero is a bond that pays no current interest and is sold at a deep discount to its face value. The interest payments are built into the price at which the holder redeems the bond when it matures in five...
...issue lie. But his camp thought it had to shake the chessboard. Kerrey has virtually no chance of winning Georgia or any of the large states up for grabs next week, including Texas and Florida. So his ploy is to drive down Clinton's numbers while pursuing a "delegate accrual" strategy -- targeting specific districts in the hope of picking up small blocs of delegates in many states. He also looks west, striving for a base that will keep him in the contest until the final primaries in June. When Kerrey did begin advertising again at week...