yield to call

简明释义

通知收益率

英英释义

例句

1.When the market conditions are favorable, firms often yield to call their debt.

当市场条件有利时，公司通常会接受提前赎回其债务。

2.The bondholder decided to yield to call when the issuer offered a premium.

当发行人提供溢价时，债券持有人决定接受提前赎回。

3.Investors may yield to call if interest rates drop significantly.

如果利率大幅下降，投资者可能会接受提前赎回。

4.The company announced it would yield to call its outstanding bonds next month.

公司宣布下个月将接受提前赎回其未偿债券。

5.In a rising interest rate environment, many bondholders might not yield to call.

在利率上升的环境中，许多债券持有人可能不会接受提前赎回。

作文

In the world of finance, investors are often faced with complex decisions that can significantly impact their portfolios. One term that frequently arises in discussions about bonds and callable securities is yield to call. Understanding this concept is crucial for any investor looking to maximize returns while managing risks effectively.The term yield to call refers to the return an investor can expect to receive if a callable bond is redeemed by the issuer before its maturity date. Callable bonds give the issuer the right, but not the obligation, to pay off the bond early, typically when interest rates fall. This feature can be advantageous for issuers but poses a risk for investors, as they may have their bonds called away at a time when reinvesting the proceeds could yield lower returns.When evaluating callable bonds, investors must consider both the coupon rate and the yield to call. The coupon rate is the interest payment made to bondholders, while the yield to call reflects the total return expected if the bond is called at the earliest possible date. This makes it essential for investors to analyze the likelihood of the bond being called and the potential impact on their overall investment strategy.For instance, if an investor holds a callable bond with a coupon rate of 5% and the current market interest rates drop to 3%, the issuer may choose to exercise their right to call the bond. In this scenario, the investor would receive their principal back sooner than anticipated, along with the last coupon payment. However, they would then need to reinvest that principal at the new, lower interest rates, which could result in a reduced overall return.Moreover, the yield to call is calculated based on several factors, including the bond's price, the time until the call date, and the bond's face value. This calculation allows investors to compare the potential returns of callable bonds against non-callable options and make informed investment decisions. It also highlights the importance of conducting thorough research and analysis before adding callable bonds to an investment portfolio.Investors should also keep in mind that the yield to call does not guarantee that the bond will actually be called. Market conditions can change, and issuers may decide not to call their bonds even if they have the option. Therefore, understanding the risks associated with callable bonds and the implications of yield to call is vital for maintaining a well-balanced investment strategy.In conclusion, the concept of yield to call plays a significant role in the decision-making process for investors dealing with callable bonds. By comprehensively understanding how this yield is determined and its potential impact on investment returns, individuals can make more strategic choices in their portfolios. Ultimately, knowledge of yield to call empowers investors to navigate the complexities of the bond market and optimize their financial outcomes.

在金融世界中，投资者经常面临复杂的决策，这些决策可能会对他们的投资组合产生重大影响。一个在关于债券和可赎回证券的讨论中经常出现的术语是yield to call。理解这个概念对于任何希望在有效管理风险的同时最大化回报的投资者来说都是至关重要的。术语yield to call指的是如果发行人在到期日前赎回可赎回债券，投资者可以预期获得的回报。可赎回债券赋予发行人提前偿还债券的权利，但不承担义务，通常是在利率下降时。这一特性对发行人有利，但对投资者构成风险，因为他们可能会在再投资收益率较低的情况下被迫赎回债券。在评估可赎回债券时，投资者必须考虑票息率和yield to call。票息率是支付给债券持有人的利息，而yield to call反映了如果债券在最早可能的日期被赎回，预期的总回报。这使得投资者在分析债券被赎回的可能性及其对整体投资策略的潜在影响时显得尤为重要。例如，如果投资者持有一只票息率为5%的可赎回债券，而当前市场利率下降至3%，则发行人可能选择行使赎回债券的权利。在这种情况下，投资者将比预期更早地收到本金，以及最后一次的票息支付。然而，他们随后将需要以新的较低利率再投资该本金，这可能导致总体回报减少。此外，yield to call的计算基于多个因素，包括债券价格、到赎回日的时间以及债券的面值。这个计算使得投资者能够将可赎回债券的潜在回报与不可赎回的选项进行比较，从而做出明智的投资决策。它还强调了在将可赎回债券纳入投资组合之前进行全面研究和分析的重要性。投资者还应记住，yield to call并不能保证债券实际上会被赎回。市场条件可能会发生变化，发行人可能会决定即使有赎回选项也不赎回他们的债券。因此，理解与可赎回债券相关的风险以及yield to call的含义对于维持良好的投资策略至关重要。总之，yield to call的概念在处理可赎回债券的投资者决策过程中扮演着重要角色。通过全面理解这一收益如何确定及其对投资回报的潜在影响，个人可以在其投资组合中做出更具战略性的选择。最终，了解yield to call使投资者能够驾驭债券市场的复杂性，优化他们的财务结果。