The term "Jumbo" is used to describe something that is unusually large or great in size, quantity, or extent. It can also refer to a person who has an exceptional physical stature or someone who stands out from others due to their impressive abilities or achievements.
In the context of finance and economics, "Jumbo" refers to a type of bond that is issued in large amounts, usually more than $1 billion. These bonds are typically offered by governments or corporations to raise capital for major projects such as infrastructure development or mergers and acquisitions.
The term "jumbo" can also be used to describe jumbo savings accounts, which offer higher interest rates and greater deposit limits than standard savings accounts. These accounts are typically designed for individuals who have a large amount of money they want to save or invest.