'Long term bonds' diaporamas de présentation

Chapter 9

Chapter 9. Bond Prices and Yields. Bond Characteristics. Face or par value Coupon rate Coupon payment Maturity Yield to maturity. Accrued interest and quoted bond prices. Accrued Interest = (Annual coupon payment/2)x(days since last coupon payment/days separate coupon payment)

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Chapter 5

Chapter 5. The American Revolution. The States United. Crude technology- cannons/rifles worked at close range, fighting impossible in bad weather

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Money and Banking, the Fed,

Money and Banking, the Fed,. Money Creation, & Monetary Policy. Monetary Policy 1. Discount Rate 2. Reserve Ratio 3. Bonds 4. ( NEW ) [TAF]Term Auction Facility. Ben Bernanke. There is $ 820 billion in currency [notes & coins]. [2/3 is overseas]. Money and Banking.

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5.1

LEARNING OBJECTIVES. After studying this chapter, you should be able to:. Explain why bonds with the same maturity can have different interest rates. 5.1. Explain why bonds with different maturities can have different interest rates. 5.2. Searching for Yield

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Chapter 5

Chapter 5. How Do The Risk and Term Structure Affect Interest Rates. Factors Affecting Risk Structure of Interest Rates. Default Risk Liquidity Income Tax Considerations. Default Risk Factor.

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Chapter 4. Present and Future Value

Chapter 4. Present and Future Value. Future Value Present Value Applications IRR Coupon bonds Real vs. nominal interest rates. Present & Future Value. time value of money $100 today vs. $100 in 1 year not indifferent! money earns interest over time, and we prefer consuming today.

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The Risk and Term Structure of Interest Rates

The Risk and Term Structure of Interest Rates. Chapter 6. Why Do Bonds With Same Maturity Have Different Prices?. Some might be riskier than others. Some might be more liquid than others. Some might have lower taxes than others.

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CAPM I: Correlations between stocks

CAPM I: Correlations between stocks. Introducing risk of a stock portfolio The math behind diversification and risk. Random walks. If you have studied a lot of probability theory, you probably know what a random walk is

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VALUATION OF FIXED INCOME SECURITIES

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Lezione n. 33 26/5/2010 Dott. Fabrizio Tesseri La gestione del debito pubblico in Italia

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Ch.1 Overview of Financial Management and Financial Environment

Ch.1 Overview of Financial Management and Financial Environment. 1. Types of Business Organization: 1) Sole proprietorship 2) Partnership 3) Corporations 4) Hybrid 1) Sole proprietorship. Advantages: Easily and inexpensively formed Subject to few government regulations

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THE METHODS TO PREVENT MARKET MANIPULATION ON SECURITIES EXCHANGES

THE METHODS TO PREVENT MARKET MANIPULATION ON SECURITIES EXCHANGES. ASLI BASTURK Capital Markets Board of Turkey April 21, 2003. Introduction. The central economic function of markets is to create LIQUIDTY. Investors face lots of kinds of risks on the process of trade.

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Problem Summary

Optimal Rebalancing Strategy for Pension Plans A Presentation to State Street Associates 15.451 Financial Engineering Proseminar MIT Sloan School of Management November 18, 2004. Problem Summary. Managers create portfolios comprised of various assets

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The Economics of Money, Banking, and Financial Markets Mishkin, 7th ed. Chapter 4

The Economics of Money, Banking, and Financial Markets Mishkin, 7th ed. Chapter 4. Understanding interest rates. Present value. The present value of a given future payment is smaller when: the interest rate is higher, and/or the payment is further in the future. Present value.

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Alli Watkins

Alli Watkins. What are bonds?. Bonds are like loans, where you are the lender and the government or big companies is the borrower. They are NOT INSURED. http:// finance.yahoo.com /education/bond/article/101194/ What_is_a_Bond. What is Interest, Coupon, Face Value, and Maturity Date?.

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M C C ORMACK B ARON S ALAZAR Preservation Through LIHTC and HTC: Washington Apartments in St. Louis

M C C ORMACK B ARON S ALAZAR Preservation Through LIHTC and HTC: Washington Apartments in St. Louis. Jonathan Goldstein jonathan.goldstein@mccormackbaron.com 314.621.3400. Washington Apartments. St. Louis, Missouri. Outline. Project Background Structure Financials Key Lessons.

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Financial Markets

Financial Markets. Financial markets link borrowers and lenders. determine interest rates, stock prices, bond prices, etc. Bonds a promise by the bond-issuer to pay some specified amount(s) in the future in exchange for some payment (the bond price) today. Stocks (equities)

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The 5% Problem Double Jeopardy for Traditional Bond Investors

The 5% Problem Double Jeopardy for Traditional Bond Investors. Nicholas Millikan , CAIA Investment Specialist. Why Reconsider Your Income Strategy: The 5% Problem. The bull market in bonds may be winding down Higher interest rates may be accompanied by excessive risk

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Segments of the Canadian Fixed Income Market

Segments of the Canadian Fixed Income Market. Canadian investment grade bonds: Annual total return This chart shows the wide range of returns earned by the major components of the fixed income market: Maturity: short, mid, and long term bonds Sector: federal, provincial, and corporate bonds.

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