yield to call

简明释义

至通知赎券收益率［证券］

英英释义

例句

1.The company decided to yield to call its bonds early due to favorable interest rates.

由于利率有利，该公司决定提前赎回其债券。

2.When interest rates fell, many companies opted to yield to call their outstanding debt.

当利率下降时，许多公司选择提前赎回其未偿债务。

3.Investors were pleased when the issuer announced it would yield to call on the preferred shares.

当发行人宣布将赎回优先股时，投资者们感到高兴。

4.The management team decided it was time to yield to call after assessing the financial situation.

管理团队在评估财务状况后决定是时候提前赎回了。

5.If the bond is called, investors must be prepared to yield to call and reinvest their money.

如果债券被赎回，投资者必须准备好赎回并重新投资他们的钱。

作文

In the world of finance, the term yield to call refers to the return on an investment in a callable bond if it is redeemed by the issuer before its maturity date. Callable bonds are unique financial instruments that give the issuer the right to pay back the bondholders before the bond reaches its full term. This feature can be beneficial for issuers, especially when interest rates drop, allowing them to refinance their debt at a lower cost. However, for investors, this can pose a risk as they may not receive the anticipated interest payments over the entire life of the bond. Therefore, understanding the concept of yield to call is crucial for anyone considering investing in callable bonds.To illustrate this concept further, let’s consider an example. Imagine you purchase a callable bond with a face value of $1,000 and a coupon rate of 5%. This means you would typically receive $50 in interest each year. However, if interest rates fall to 3%, the issuer might choose to exercise their right to call the bond, paying you back your initial investment of $1,000. In this case, you would not receive the full interest payments you had expected, which is where the yield to call calculation comes into play. It helps investors assess the potential returns based on the likelihood of the bond being called before maturity.Investors must also consider the timing of the call option. The yield to call is calculated based on the assumption that the bond will be called at the earliest possible date, which is typically specified in the bond's terms. This means that if an investor holds a callable bond, they should evaluate the market conditions regularly to determine the likelihood of the bond being called. If the market interest rates remain low, the chances of the bond being called increase, which could affect the overall yield.Moreover, the yield to call is an important metric for comparing different investments. Investors can use it to evaluate whether a callable bond offers a competitive return compared to non-callable bonds or other investment options. For instance, if two bonds have similar credit ratings but one is callable while the other is not, the yield to call can help determine which bond presents a more attractive investment opportunity.In conclusion, the concept of yield to call is vital for investors who are considering callable bonds. It provides insight into the potential returns and risks associated with these types of investments. By understanding how yield to call works, investors can make more informed decisions and better manage their portfolios. As the financial landscape continues to evolve, having a solid grasp of such terms will undoubtedly aid in navigating the complexities of investing effectively.

在金融世界中，术语yield to call指的是可赎回债券投资的收益率，如果在到期日前被发行者赎回的话。可赎回债券是一种独特的金融工具，它赋予发行者在债券到期之前提前偿还债券持有人的权利。这个特性对发行者来说是有利的，尤其是在利率下降时，允许他们以更低的成本再融资。然而，对投资者而言，这可能会构成风险，因为他们可能无法在整个债券的生命周期内获得预期的利息支付。因此，理解yield to call的概念对任何考虑投资可赎回债券的人来说都是至关重要的。为了进一步阐明这个概念，让我们考虑一个例子。假设你购买了一只面值为1000美元、票面利率为5%的可赎回债券。这意味着你通常每年会收到50美元的利息。然而，如果利率降至3%，发行者可能会选择行使他们的赎回权，偿还你1000美元的初始投资。在这种情况下，你将不会收到你原本预期的全部利息支付，这就是yield to call计算发挥作用的地方。它帮助投资者评估基于债券在到期前被赎回的可能性所带来的潜在回报。投资者还必须考虑赎回选项的时机。yield to call是基于债券将在最早的可能日期被赎回的假设来计算的，这通常在债券条款中指定。这意味着如果投资者持有可赎回债券，他们应该定期评估市场条件，以确定债券被赎回的可能性。如果市场利率保持低位，债券被赎回的机会就会增加，这可能会影响总体收益。此外，yield to call是比较不同投资的重要指标。投资者可以利用它来评估一只可赎回债券是否提供了与非可赎回债券或其他投资选项的竞争性回报。例如，如果两只债券具有相似的信用评级，但一只是可赎回的而另一只是非可赎回的，那么yield to call可以帮助确定哪只债券呈现出更具吸引力的投资机会。总之，yield to call的概念对于考虑可赎回债券的投资者至关重要。它提供了对这些类型投资的潜在回报和风险的深入了解。通过理解yield to call的运作方式，投资者可以做出更明智的决策，更好地管理他们的投资组合。随着金融环境的不断变化，掌握这样的术语无疑将有助于有效应对投资的复杂性。