Usually a home financing bond, but also any other bond that has long-term coupons but short maturity; the mortgages may be prepaid, and the holders may receive the long-term yield after a short period of time. Bloomberg Financial Dictionary
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super sinker bond UK US noun [C] FINANCE
► a bond that matures (= is due for payment) after a short period of time, but that is expected to make as much profit as an investment made over a longer period of time
Financial and business terms. 2012.