Current Coupon Bond

Current Coupon Bond

Bonds on which the coupon is set approximately equal to the bonds' yield to maturity at the time of their issuance.

Bellwether Issue

A bond with a coupon that is close to market rates. Interest rates on bonds vary from time to time according to a number of factors, but are usually locked at issue. A bellwether issue is one with an interest rate very near to the prevailing rates, regardless of when it was issued. Bellwether issues are also called benchmark issues and perhaps, most commonly, current coupons bonds.