Yield to Maturity Is Always Received as Promised: A Reply

This theoretical note elaborates upon why it is a myth that YTM is viewed as only a promised but not really earned interest rate. It addresses some misconceptions in Shirnani and Wilbratte (2009) on what, between YTM and RCY, is a true rate of return of a coupon bond, why YTM is not just a "fictitious mathematical construct," and why YTM has nothing to do with a yield curve.

MoreLess

Year of publication:	2008-05-15
Authors:	Cebula, Richard ; Yang, Bill

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Type of publication:	Book / Working Paper
Language:	English
Notes:	Cebula, Richard and Yang, Bill (2008): Yield to Maturity Is Always Received as Promised: A Reply. Published in: Journal of Economics and Finance Education , Vol. 8, No. 2 (14 January 2009): pp. 38-41.
Classification:	E43 - Determination of Interest Rates; Term Structure Interest Rates ; G12 - Asset Pricing
Source:	BASE

Persistent link: https://www.econbiz.de/10015238881