Back-End Yield
Back-End Yield is the yield measure associated with the later cash flows of a fixed-income security, typically focusing on payments toward the end of the instrument's life rather than near-term coupons.
Example: An analyst notes that the back-end yield of a 30-year MBS under a moderate prepayment scenario concentrates cash flows in the later years, affecting how it compares with a non-amortizing bond.
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