[ L - M ]

Latin America
The countries of Central and South America (including Mexico, but excluding the Caribbean countries).

Lehman Brothers@ Aggregate Bond Index
A benchmark index made up of government, agency, corporate and mortgage bonds whose securities are investment-grade quality or higher, have at least one year to maturity, and have an outstanding par value of at least $100 million.

Maturity/maturity date
The date when the issuer of a money market instrument or bond agrees to repay the principal, or face value, to the buyer.

Market capitalisation
A determination of a company's value, calculated by multiplying the total number of company stock shares outstanding by the price per share. Also called capitalisation. Market cap breakdown: large-cap (over $12 billion), medium-cap (under $12 billion; over $1 billion), small-cap (under $1 billion).

Market risk
The possibility that stock or bond prices overall will decline over short or even extended periods. Stock and bond markets tend to move in cycles, with periods of rising prices and periods of Falling prices.

Member State
Member state of the European Union, that is Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden and the United Kingdom.

Moody's
Moody's Investors Services, Inc. and its successsors. Moody's rates most of the publicly held corporate and municipal bonds and many Treasury and government agency issues. Moody's also rates commercial paper, preferred and common stocks and municipal short-term issues. Its parent company is Dun & Bradstreet.