| Collateralized Bond Obligation - CBO | |
 An investment-grade bond backed by a pool of junk bonds. Junk bonds are typically not investment grade, but because they pool several types of credit quality bonds together, they offer enough diversification to be "investment grade." |
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 Similar in structure to a collateralized mortgage obligation (CMO), but different in that CBOs represent different levels of credit risk, not different maturities. |
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 Junk Bonds: Everything You Need to Know - Don't be fooled by the name - junk bonds may be for you if you know how to analyze them. Bond Basics Tutorial - What are bonds and do they belong in your portfolio? Get all the answers in this comprehensive tutorial. |
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