(redirected from chasing tail)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.


The remaining reserves after a project financing has been repaid. Sometimes refers to the residual value.


1. In a bond auction, the difference between the lowest bid and the average bid in the auction.

2. In a quote, the cents rather than the whole dollar amount. For example, in the quote $32.59, tail is 59 cents. This term is most common in new issues of a security.

3. See: 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.
References in periodicals archive ?
Kauto doesn't deserve to be chasing tails, he's a champion and doesn't owe anyone anything.
Chasing tails in ascidians; developmental insights into the origin and evolution of chordates.
There's no doubt the 6-0 scoreline is a warning to us and we'll have to work extremely hard to win possession and keep it or else we could be chasing tails for 90 minutes.