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A callable bond is a debt security that can be redeemed by the issuer before maturity at the option of the issuer. Commercial paper is a form of unsecured short-term debt. A convertible bond pays fixed income interest payments but can be converted into a predetermined number of shares of common stock. Convexity is a risk management tool used to measure and manage a portfolio’s exposure to market risk. A corporate bond is a debt issued by a company to raise capital. The coupon rate is the nominal yield paid by a fixed income security. A lender is an individual or institution that provides credit to another party to obtain a loan, usually under a loan agreement or contract. In fixed income investing, the current yield on a bond is the annual return on the investment, including both interest and dividend payments, which is then divided by the current price of the security. The Day Count Convention is a standardized methodology for calculating the number of days between two dates. A bond is a type of debt instrument that is not secured by any collateral and usually has a maturity of more than 10 years.