tail
C2CEFR level
92/100Rarity: very rare
TechnicalRegister
The gap by which the price at a Treasury auction lags the market's expectation, signalling weak demand.
The long-bond auction printed a two-basis-point tail, and dealers were left holding the bag.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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