Trains


Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Idioms, Encyclopedia.

Trains

Refers to investment trusts which are populated by corporate bonds. In October 2001, Morgan Stanley's Tradable Custodial Receipts (Tracers) was launched. Tracers contain a number of coporate bonds and credit default swaps which are selected for liquidity and diversity. Lehman Brothers launched a similar product, Targeted Return Index Securities (Trains) in January 2002. Both contain investment grade bonds. If a bond falls out of the investment grade category, it is either liquidated from the trust or delivered to the investor. Both Tracers and Trains are 144a trust structures and are only available to qualified buyers because they are considered private securities due to the trust structure.
References in classic literature ?
They had to stop over several hours at Waymore Junction to catch the Black Hawk train. During the wait, Cutter left her at the depot and went to the Waymore bank to attend to some business.
The train once arrested, the most superficial stare could take in many features of the tragedy.
I was to have gone by the boat train which left half an hour ago.
Passepartout, on waking and looking out, could not realise that he was actually crossing India in a railway train. The locomotive, guided by an English engineer and fed with English coal, threw out its smoke upon cotton, coffee, nutmeg, clove, and pepper plantations, while the steam curled in spirals around groups of palm-trees, in the midst of which were seen picturesque bungalows, viharis (sort of abandoned monasteries), and marvellous temples enriched by the exhaustless ornamentation of Indian architecture.
The approach of the train was more and more evident by the preparatory bustle in the station, the rush of porters, the movement of policemen and attendants, and people meeting the train.
Well, you get along for a bit, but soon find yourself in a long train of carts and carriages all obliged to go at a walk; perhaps you come to a regular block-up, and have to stand still for minutes together, till something clears out into a side street, or the policeman interferes; you have to be ready for any chance -- to dash forward if there be an opening, and be quick as a rat-dog to see if there be room and if there be time, lest you get your own wheels locked or smashed, or the shaft of some other vehicle run into your chest or shoulder.
But it was very simple; the train came sliding down, and when it reached the right spot it just stopped--that was all there was "to it"--stopped on the steep incline, and when the exchange of passengers and baggage had been made, it moved off and went sliding down again.
We were running behind another train. Among the travellers in my Pullman was comrade Hartman, like myself in the secret service of the Iron Heel.
"It happens that I am going by this train," said Trefusis.
When the train came into the station George felt relieved.
It is a matter of training, and the English are better trained, that is all.
It is a habit of mind to which I have been trained all my life.