Related: Benchmark issues.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A bond with a coupon that is close to market rates. Interest rates on bonds vary from time to time according to a number of factors, but are usually locked at issue. A bellwether issue is one with an interest rate very near to the prevailing rates, regardless of when it was issued. Bellwether issues are also called benchmark issues and perhaps, most commonly, current coupons bonds.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved