A bond is a three-party contract under which the insurer (the surety) guarantees another's conduct...
asset class
An asset class is any type of financial transaction that can be converted into a standardized, quantifiable, negotiable asset.
Additional Information
The use of derivatives has given rise to the creation of several significant asset classes, such as mortgage-backed securities. Insurance-linked securities (ILS) also represent a new asset class. Stocks and bonds are the best-known asset classes.
Related Terms
