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Joseph Effect
The tendency for persistent time series (0.50trends and cycles. The term "Joseph Effect" was coined by Mandelbrot in reference to Joseph's interpretation of Pharaoh's dream of seven fat years followed by seven lean years.
JP
The ISO 3166 country code for JAPAN.
JPY
The ISO 4217 currency code for the Japanese Yen.
JSE
See: Johannesburg Stock Exchange
Jumbo certificate of deposit
A certificate of deposit in increments of $100,000.
Jumbo loan
Loans of $1 billion or more. Or, loans that exceed the statutory size limit eligible for purchase or securitization by the federal agencies.
Jump ball
Used in the context of general equities. (1) Deal in which no trading house has exclusivity (each firm is in direct competition for a piece of business); (2) no preference in picking a particular side (buy /sell) of a stock as profile, indicated during the block call, indicate that the sales force could have the stock either way.
Junior debt (subordinate debt)
Debt whose holders have a claim on the firm's assets only after senior debtholder's claims have been satisfied. Subordinated debt.
Junior issue
A debt or equity issue from one corporation over which the issue of another firm takes precedence with respect to dividends, interest, principal, or security in the event of liquidation.
Junior mortgage
A mortgage that will be satisfied only after more senior mortgages have been satisfied. E.g., a first mortgage will be satisfied prior to a second or a third mortgage.
Junior refunding
Issuing of new securities to refinance government debt that matures in one to five years.
Junior security
A security that has a lower-priority claim on a company's assets and income than a senior security. For example common stock is junior to preferred stock.
Junk bond
A bond with a speculative credit rating of BB (S&P) or BA (Moody's) or lower. Junk or high-yield bonds offer investors higher yields than bonds of financially sound companies. Two agencies, Standard & Poors and Moody's Investor Services, provide the rating systems for companies' credit.
Jury of executive opinion
A method of forecasting using a composite forecast prepared by a number of individual experts. The experts form their own opinions initially from the data given, and revise their opinions according to the others' opinions. Finally, the individuals' final opinions are combined.
Just me asking
Used in the context of general equities. "Not a customer request for information."
Just title
See Also: Clear title
Justified price
The fair market price of an asset.
Just-in-time inventory systems
Systems that schedule materials to arrive exactly when they are needed in the production process.
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