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Forex glossary - Z

Zero-coupon bond - a bond that does not make interest payments during its term.

Zero Coupon Instruments - Fixed income instruments that do not pay a coupon but only pay principal at maturity; trade at a discount to 100% of principal before maturity with the difference being the interest accrued.

Zero Coupon Yield Curve - For zero coupon bonds, the graph of the yields to maturity of the series plotted by maturity.