imported>Doug Williamson |
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| 1.
| | == Summary == |
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| The rate of return (or cost) <i>on the current market value</i> of an asset (or liability), usually expressed as a percentage per annum.
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| For example, today’s yield to maturity of a bond measures the total return to an investor in the bond, reflecting both
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| *The interest income over the remaining life of the bond and
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| *Any capital gain (or loss) from today’s market value to the redemption amount payable at maturity.
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| When the market yield to maturity is applied to discount the future cashflows of the asset or liability, the net present value of all of the cashflows - including the current market purchase price - is Nil.
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| 2.
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| Dividend yield.
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| 3.
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| More broadly, any measure of a rate of return or borrowing cost.
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| In this broader sense, yield may be calculated and expressed on a number of different bases.
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| For this reason, it is essential to identify clearly the basis on which a given yield is expressed, before using it for calculation or comparison.
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| 4.
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| Tax yield.
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| == See also == | |
| * [[Bond]]
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| * [[Credit spread ]]
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| * [[Discount instruments]]
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| * [[Discount rate]]
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| * [[Discount yield]]
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| * [[Dividend yield]]
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| * [[Forward yield]]
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| * [[High-yield]]
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| * [[Interest]]
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| * [[Interest rate]]
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| * [[Inverse relationship]]
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| * [[Liquidity]]
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| * [[Market value]]
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| * [[Nominal annual rate]]
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| * [[Nominal annual yield]]
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| * [[Par yield]]
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| * [[Periodic rate of interest]]
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| * [[Periodic yield]]
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| * [[Rate of return]]
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| * [[Security]]
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| * [[SLY]]
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| * [[Sterling commercial paper]]
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| * [[Tax yield]]
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| * [[Yield spread]]
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| * [[Yield to maturity]]
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| * [[Zero coupon yield]]
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| ===Other resources===
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| *[[Media:2015_06_June_-_Safety_first.pdf| Safety first, The Treasurer]]
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| *[http://www.treasurers.org/node/8837 Triumph with timelines, The Treasurer]
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| [[Category:Accounting,_tax_and_regulation]]
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| [[Category:The_business_context]]
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| [[Category:Corporate_finance]]
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| [[Category:Intercompany_funding]]
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| [[Category:Investment]]
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| [[Category:Long_term_funding]]
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| [[Category:Cash_management]]
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| [[Category:Financial_products_and_markets]]
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| [[Category:Liquidity_management]]
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