What is a bond?
A bond is a fixed interest financial asset issued by governments, companies, banks, public utilities and other large entities. Bonds pay the bearer a fixed amount a specified end date. A discount bond pays the bearer only at the ending date, while a coupon bond pays the bearer a fixed amount over a specified interval as well as paying a fixed amount at the end date.
What are Double-barreled bonds?
A revenue bond issued by a municipal or state authority that is guaranteed by the overlying municipal or state authority.
For example, if a transport authority for a state issues a bond, in the event of a revenues from the transport authority are not enough to pay back the bond, the state government would use its tax revenues to make the interest and principal payments.
So, for these bonds, the cash flows are pledged by two distinct entities. The First entity is under obligation to make interest payments, whereas the other owes the principal payments.
These are municipal general obligation (GO) bonds as in contrast to revenue bonds because they are backed by the issuer and its taxing authority.

What is Yield ?
The term yield indicates the amount in cash that the owners of a security will get. Generally, it does not take into account the price variations, at the difference of the total return. Yield applies to various stated rates of return on stocks (common, preferred, and convertible), fixed income instruments like bonds, notes, bills, strips, zero coupon etc. and other investment insurance products like annuities.
What is Yield spread ?
Yield spread is the difference between the quoted rates of return on two different investments, usually of different credit quality.

Asset allocation is the strategy used in choosing between the various kinds of possible investments, in other words,
the strategy used in choosing in what asset classes such as stocks and bonds one wants to invest.
A large part of financial planning consists of finding an asset allocation that is appropriate for a given person in
terms of their appetite for and ability to shoulder risk.
Examples of asset classes:
* Cash ( money market accounts)
* Bonds: investment grade or junk (high yield); government or corporate; short-term, intermediate, long-term; domestic, foreign, emerging markets
* Stocks: value or growth; large-cap versus small-cap; domestic, foreign, emerging markets
* Real estate
* Foreign currency
* Natural resources
* Precious metals
* Luxury collectibles such as art, fine wine and automobiles
* Real Estate Investment Trusts (REITs)
* International Investments: Foreign or emerging markets
* Life settlements.