Johannesburg Gold
Index of leading gold-mining companies' shares traded on the Johannesburg Stock Exchange in South Africa.
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JSE-Actuaries All Share Index
Index of leading stocks on the Johannesburg Stock Exchange in South Africa.
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Junior security
A security that has lower priority in claims on assets and income than other securities.
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Junk bond
These are the lowest quality bonds. Bonds with credit ratings below BBB from Standard & Poor's or Baa from Moody's Investor Services are considered "junk" because they have a greater chance of default than investment grade bonds. Junk bonds are usually issued by smaller companies without long track records or by companies with questionable credit ratings. To compensate for the additional risk, issuers offer higher yields than investment-grade bonds. In recent years, however, junk-bond yields have declined as their popularity has increased and default rates have slowed. Also called high-yield bonds. See "Types of Bonds."
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