A Z-bond, also known as an accumulation bond, is often the last bond to mature. He receives the payment, which is the accrual of interest added to the principal after all other classes of bonds.
A bond’s zero volatility spread tells the investor the present value of the bond plus its cash flows at specific points on the Treasury curve where cash flows are generated.
Industrial Revenue Bonds (IRBs) are a type of municipal bond issued by a state or local government on behalf of a private company for a specific project.