negative spread; loss margin; back spread
Financial term for a situation where the cost of funds exceeds the return on investment, or more broadly any unfavorable margin. Often used in banking and securities contexts.
When interest rates rise, the bank's negative spread widens.
This investment is in a loss margin and won't yield a profit.
Standard mixed kanji-kana spelling; ざや is usually written in kana.
Full kanji spelling; 鞘 is a non-jōyō kanji and this form is uncommon.
Katakana variant of the kana portion, sometimes seen in financial contexts.
Compound of 逆 (reverse) and 鞘 (margin, spread). The financial sense of 鞘 comes from the image of a scabbard as a container, metaphorically extended to the difference between two prices.