it's often heard in my daily work as a programmer in an investment bank, supporting mortgage backed securities desks (passthrough, agency cmo, cmbs, etc).

My take is that the terms describe the characteristics of the instruments. Is it used in more specific scope? For example, can we call price, coupon rate, duration, DV01, OAS "metrics" or "indicatives" of a bond? and what about those more specific to MBS products such as "prepayment rate"?

  • $\begingroup$ could you more precise about the context ? are you working on a asset management company ? on a trading desk of a bank ? I think making your question more precise will give better answers $\endgroup$ – MJ73550 Apr 14 '16 at 14:44
  • $\begingroup$ Bonds (like any other financial contracts) have characteristics which describe them as contract like their coupon rate, their maturity for an investor or a trader, they bear risk which can measure by looking at how the price will evolve according to some moves in market parameters, it is the case of the DV01, or duration. $\endgroup$ – MJ73550 Apr 14 '16 at 15:37

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