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Yield and Duration


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Date :

August 20, 2019

Time :

9:00 am - 5:00 pm

Address :

180 Maiden Lane, Suite 1102 New York,NY10038United States

Event Description

  • Calculation of Yield to Maturity (and Yield to Call)
    • Iterative process to obtain periodic rate, times periods/year to annualize
    • Confusion due to multiple meanings implied by yield
    • Yield to maturity (or yield to call) versus rate of return
    • Potential problems with using yield as a proxy for future returns
    • Assumptions errantly attributed to calculation of yield to maturity/call
    • Yield – market price re-expressed as a single interest (discount) rate
    • How embedded option for early retirement impact interpretation