Professional Beer Drinker2020-05-22 19:41:05

老师您好，在上节课的课程中有同学提问EAR和EAY是不是一个东西，许多人说这两个是一个意思，但是国外的金融论坛上有人说这个两个概念不是同一个东西，“No, EAY can only be used in the fix income market or money market. Just like HPY is the fixed income equivalent of HPR. EAY is the fixed income equivalent of EAR.”课本里也说过，“ Bond-market participants often use the term “yield” when referring to total returns (returns incorporating both price change and income), as in yield to maturity. In other cases, yield refers to returns from income alone (as in current yield, which is annual interest divided by price). 有些不明白，想听听老师的意见，感谢🙏