|
Kitchen Sink Bond
|
An obligation of a Secured Investor Trust which may be formed to provide an outlet for less popular Collateralized Mortgage Obligation tranches. Trust portfolios and, hence, these bonds, are hard to value. The name reflects the miscellaneous composition of the underlying portfolio. The high credit rating of the bonds may not reflect the market risks-including prepayment risk-built into the issue. See Secured Investor Trust.
|
