6
Bond Market Calculations
“The different conventions used in different markets to relate price and yield should not affect the economics of an instrument. The economics are determined by what the price actually is and what the future cashflows are. From these, the investor can use a consistent approach of his choice to calculate yields for comparison.”
Overview of capital market instruments
Different yield measures and price calculations
A summary of the various approaches to price / yield
Duration, modified duration and convexity
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