yield to maturity 和 coupon rate

来源:百度知道 编辑:UC知道 时间:2024/06/27 17:46:56
有什么区别?

yield to maturity is the hypothetical constant interest rate that equate price of bond with the present value of that bond's future cash flow. But coupon rate determines what the bond's coupon payment will be. it is fixed. if coupon rate = ytm, bonds price will equal face value of bond. if coupon rate>ytm, bond price> face value. if coupon rate<ytm, bond price< face value