Lookback
Uses an overnight rate observed a specified number of business days earlier for each accrual day.
Market use
Provides operational time before payment calculation.
What it means
Uses an overnight rate observed a specified number of business days earlier for each accrual day.
Example
The exact implementation differs from observation shift and lockout conventions.
How to interpret it
This concept should be read together with its market convention, measurement horizon and underlying instrument. BondStats presents it as an analytical reference rather than investment advice; instrument documentation and primary market rules remain authoritative.
Related Conventions
BondStats reference content is independently written. Mathematical relationships, abbreviations and market conventions are presented for educational and analytical use.