Tail(redirected from tail down)
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Related to tail down: high-tail, curtailing
The remaining reserves after a project financing has been repaid. Sometimes refers to the residual value.
1. In a bid for a new security issue, the portion of the bid price that follows the decimal. For example, a bid of $92.125 has a tail of .125.
2. The difference between the average bid and the lowest bid at an auction for Treasury securities.