标题: 两个问题请教老师，谢谢。 [打印本页]
作者: mavis 时间: 2006-8-23 07:39 标题: 两个问题请教老师，谢谢。
schweser book 1 page 121. example bond-equivalent yield calculation
a 3-month load has a holding period yield of 2 percent. what is the yield on a bond-equivalent basis?
the first step is to convert the 3-month yield to a semiannual(6-month)yield.
1.02的平方－1＝4.04% 这是用的什么原理啊？谢谢老师
作者: 胡老师 时间: 2006-8-23 07:45
•The bond-equivalent yield refers to 2× the semiannual discount rate. This convention stems from the fact that yields on U.S. bonds are quoted as twice the semiannual rate because the annual coupon interest is paid in two semiannual payments.
The bond-equivalent yield refers to 2× the semiannual discount rate. This convention stems from the fact that yields on U.S. bonds are quoted as twice the semiannual rate because the annual coupon interest is paid in two semiannual payments.bond-equivalent yield 的计算步骤是先计算出半年的收益率，再将半年的收益率乘以2就可以了。1.02的平方－1＝4.04%这个步骤是计算出半年的收益率，因为3个月的收益率是0.02，应该还要将0.0404乘以2。
| 欢迎光临 CFA论坛 (http://forum.theanalystspace.com/) |
Powered by Discuz! 7.2 |