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- 2011-7-11
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- 2013-6-27
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2#
发表于 2011-7-11 17:34
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If I recall correctly, the subject refers to synthetically treating each coupon payment as though it were a zero coupon bond. Normally, bonds pay a sequence of interest payments and a lump sum at maturity. The context here is to look at the payment stream as a series of standalone bonds.
I think you need to understand this concept pretty well, because later sections of fixed income build upon it.
- Robert |
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