|Yaoundé Convention||A 1963 meeting and associated agreement, in Yaounde Cameroon, between the European Economic Community and some 18 African states, mostly former colonies of EEC countries, granting them preferential treatment on industrial exports. Predecessor to the Lomé Convention. [Source]|
|Yarn forward||Short-hand for the rule of origin for textiles and apparel in NAFTA and subsequent US trade agreements. It specifies that the production of yarn or thread from which a product is produced must have been done in the US or its partner country, as must all production using that material.|
|Year-on-year||Compared to the corresponding data from one year previously. For example, if a firm's 2nd-quarter profit rose 12% y/y, then its 2nd-quarter profit this year would be 12% higher than its 2nd quarter profit the year before. Same as year-over-year.|
|Yellow box||See amber box.|
|Yen||The main currency unit of Japan. Each yen is subdivided into one hundred sen, which are in turn subdivided into ten rin.|
1. The geographic territories that Japan in the 1930s controlled, including Korea, Manchuria, Taiwan, and parts of north China in addition to Japan itself, and from which it hoped to source what it needed to fend off sanctions and blockades by other countries.
2. A group of currencies, if it exists, whose values are tied more to the Japanese yen than to the US dollar.
|Yield||The amount of return on an investment, normally expressed as percent per year; the interest rate.|
|Yield curve||The variation of asset yields as the maturity of the asset rises. Also called the term structure of interest rates. Normally, the yield on otherwise comparable assets rises with their time to maturity.|
|Yield spread||The difference between the yield on a bond and the yield on an otherwise comparable bond that is considered risk free, like a U.S. treasury bill. The spread is an indicator of the risk of the bond and thus, as in the case of bonds issued by emerging market governments, the economic strength of those governments. [Source]|
|Yom Kippur War||The war between Arab countries and Israel that began October 6, 1973 when forces of Egypt and Syria attacked Israel on its holiday of Yom Kippur. The conflict ended on October 25, 1973 with a cease-fire. It was US support for Israel during this conflict that prompted the first Energy Crisis of the 1970s. [Source]|
|Yuan||The principal unit of the renminbi, the currency of China. Each yuan is subdivided into ten jiao, which are in turn subdivided into ten fen.|
|Yuan block||A group of currencies, if it exists, whose values are tied more to the Chinese yuan than to the US dollar.|