p******e
发帖数: 17163 | 1 I think less than a year, we call bills.
Between a year and 10 years we call notes
Over 10 years we called bonds
Bonds are long term, bills are short term. Notes are medium term.
Bonds are subject to higher capital loss shld interest rate move against u
whereas bills are much less risky. |
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f********s
发帖数: 658 | 2 如果预期加息，bond会暂时跌，跌多少可以查查你买的bond的 interest rate
sensibility. 但是跌只是暂时的，FUNd里面新买的bond yield会更高，慢慢的收益会
catch up |
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w******g
发帖数: 2047 | 3 Tesla Bonds Are in Free Fall m
After a spate of fresh setbacks in the past week, including a fatal Tesla
crash and a credit-rating downgrade, bondholders are asking hard questions
about whether Musk can deliver on his bold promise to bring electric cars to
the masses before the company runs out of cash.
On Wednesday, Tesla’s notes plunged to a low of 86 cents on the dollar, the
clearest sign yet creditors aren’t totally sure the company will be money
good.
Tesla will report first-quarter product... 阅读全帖 |
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m*********7
发帖数: 293 | 4 你的bond还是bond etf啊？bond到期还本付息，怕什么 |
|
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a******3
发帖数: 170 | 6 【 以下文字转载自 Investment 讨论区 】
发信人: amazons3 (马三), 信区: Investment
标 题: 关于state municipal bonds 的税
发信站: BBS 未名空间站 (Mon Jan 19 19:57:01 2009)
想买点state municipal bonds， 是不是只有买本州的municipal bond， 才能免州税
？ |
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c**a
发帖数: 316 | 7 ....
thanks.
当broker 还真辛苦。
其实 我的问题是， trade bond 的话， return 应该是考虑税后return。。
考虑税后 return 的话， 很多问题不一样。。。
比如 coupon 是 tax 在 income tax 的。这就非常不利。
所以同样的 yield 和别的因素， zero coupon bond 有利很多。
而且没有reinvestment risk。
考虑 OID 后问题就更复杂了， 比如 要查bond 的发行价格 等等。。。。
其实 所有的 investment 都要按随后 回报率来计算， 然后 会有很多 忽略税时 不会
出现的现象。
don't worry about OID. Your broker will work the numbers for you and provide
that info on Form 1099. For muni, I don't see OID as a problem, at least
for Fed.
Rule of thumb on disposition of muni bo |
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F********E
发帖数: 1025 | 8 Have you ever been refused a bond or had a bond cancelled on you?
啥意思，谢谢！ |
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t**i
发帖数: 688 | 9 http://www.ustcnc.org/picnic.html
USTC Alumni Picnic (中国科大北卡校友野餐会) :
时间：十月十六日，星期天，11:30am-3:00pm
地点：The Screened Porch at the Bond Park, Cary, NC
What: USTC Alumni Potluck Picnic Party
When: Sunday, October 16, 2011, 11:30am-3:00pm
Where: The Screened Porch at the Bond Park
(801 High House Road, Cary, NC 27512)
一年一度的科大北卡校友聚会的时候又到了。今年的聚会将于十月十六日，星期天中午
在Cary 的Bond Park举行。
欢迎所有曾在中国科大或中科院学习或工作过的校友和老师们,以及家人和朋友们,都来
参加这个科大校友聚会。聚会形式和往年一样，Potluck Picnic. 请每个家庭自带一至
两道菜，与大家分享。聚会组织者们将... 阅读全帖 |
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m*******i
发帖数: 8711 | 10 而且最好买state的muni bond，不要买local的muni bond，因为CA的local
governments lacks methods to levy taxes (due to Prop 13).
目前对bond的最大危险是inflation risk。 |
|
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s*****p
发帖数: 5342 | 12 Fed如果不买了,是不是长短期bond yield rate都应该涨?
长期bond yield rate涨了,mortgage rate也应该涨?
短期bond yield rate涨到一定程度,米国就该再降级?
思路对吗? 元芳,你怎么看? |
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c********e
发帖数: 6158 | 13 Fed buy bond -> bond price increase -> bond yield decrease |
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s*****p
发帖数: 5342 | 14 这样是不是顺眼点：
Fed如果不买了,是不是长短期bond yield rate都应该涨?
长期bond yield rate涨了,mortgage rate也应该涨?
短期bond yield rate涨到一定程度,米国就该再降级 |
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n****e
发帖数: 4990 | 15 bond降不降级，是另外一个问题，降不降级会影响到rate，降级是因，rate升高是果，
虽然很多时候有连锁反应，就像欧洲那些国家rate涨到不可能还得起的情况。
只要bond能如期还，就不能降级，就像个人的信用记录一样。美国的bond即使fed不买
，也有别的国家买，即使现在rate拉这么低，起码还能避险，而且也没有别的更好的选
择。去年被降级主要是因为政府debt ceiling的问题。一方面政府借钱越多，偿还能力
就会有问题，另一方面即使不提升这个ceiling，政府就得关门，也会影响信用级别。 |
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r*******u
发帖数: 8732 | 16 - In the latest James Bond Movie - Casino Royal (which was actually the
first james bond movie - made as a spoof believe it or not), The recipe for
Bond’s “Vesper” martinis is - three measures of gin, one of vodka and
half of Kina Lillet, now named Lillet Blanc.
The ingredients are mixed then strained and served "straight up" (without
ice) in a chilled cocktail glass, and garnished with either an olive or a
twist of lemon (a strip of the peel, usually squeezed or twisted to express
volatile citr |
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d*****s
发帖数: 313 | 17 1. Steroid test of MLB is an insult to sports.
2. Bonds is a great hitter. His eye-hand coordination has nothing
to do with steroids. He is great no matter he is juiced or not.
3. Most of the power hitters in the league are probably on steroids.
Stats of guys like Bonds, Sosa, Thome, Giambi Mcguire and Pujols
are not real. All that I can say is AROD has the least suspicion.
4. I just like Bonds. Period. hehe |
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L*********h
发帖数: 2617 | 18 都过去半个世纪了，世界都变了，观众也变了，bond不可能一点不变
比如bond girls, 现在不比50，60年代，男女平等和女性主义都上升，bond girls不会
再那么容易摆布了 |
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w********1
发帖数: 3492 | 19 Thu, 28 Jun 2012 06:54:23 PDT
Earlier this week, U.S. District Judge Lucy Koh granted a preliminary
injunction that would allow Apple to bar Samsung from selling its Galaxy Tab
10.1 in the United States while a full trial on Samsung's alleged design
infringement is conducted.
Enforcement of the sales ban required that Apple post a $2.6 million
bond from which damages to Samsung would be paid if Apple ultimately lost
its infringement case, and FOSS Patents reports that Apple has indeed moved
... 阅读全帖 |
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c*********k
发帖数: 220 | 20 上面说的已经很全面详细了.
你可以倒算出来effective rate,但我不建议. 向client直接要amortization schedule
.而且,他们也可能redeemed 一些bonds 在2006, 2007年.
你需要test bond issuance and carrying value, effective rate. 几个因素都需要
考虑1) issue price, (wire transfer support, confirmation with broker....)2)
convention code: A365 or 30/360 3)Bond类型 fixed-rate, floating rate, step-
rate.... |
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r*****z
发帖数: 176 | 21 谢两位的帮助，分析的很透彻了。
听你们的意思，好像也要直接跟公司问的。 只是我跟这家公司没有任何关联，没法直
接上去问。 所以想知道SEC filing里面有没有哪个文件会直接说的。 10-K里面只说
face value，不提这个discount的细节。Filing里面还有一个貌似credit agreement的
东西，里面关于这个bond的什么细节基本都说了，就是没有一点关于这个discount的事
。 至于CFS里面，因为他们当时发了好几个bond，反正都混在一起，看不真切。
还有，这个discount的amortization，是一定要straight line吗？如果这样，可以从
两个时间unamortized discount的差别来推算，至于是不是有financing cost在里面，
就无多所谓了。
另外，关于picollo解释的一个细节：bond issued under par，是指effective rate高
于coupon rate吧？我不是会计科班，不知道是不是理解错了。
schedule
) |
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c*********k
发帖数: 220 | 22 "Calculate the price of the bond in year 2010"
"The current yield of the bond is 11.0%"
The simulation does not give the bond yield in 2010, I don't think you can
calculate the price in the year of 2010. Unless, we assumed the yield is
consistent through 2010. Do you think so? |
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s********0
发帖数: 2687 | 23 谢谢。我还是不明白，比如一个公司有bond payable,说明公司已经把bond issue了对
吧？为什么还说：
Suppose it ISSUE these bonds on April 1, how should we account for the
interest for January, Feb, March |
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l******e
发帖数: 19 | 24 我想应该是发行bond的公司将bond交给trustee，由trustee卖给investor。所以在
stated day就记做bond payable。
关于issue between interest date, 我想公司是为了发放利息时候的简单方便（对
investor按比例发放利息，不用再做accrue之类的工作），就索性在investor购买的时
候就把先前accrue的利息收上，到时候再还给investor。 |
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s****i
发帖数: 66 | 25 1/2/2010,Parker Co. issued 6% bonds with a face value of $400,000 when
market interest rate was 8%. The bonds are due in ten years,and interest is
payable every June 60 and December 31. What's the total PV of this bond?
$400,000 at 4% after 20 periods + $12,000 at 4% for 20 periods.
我不明白的是为什么interest $12,000 要用4%的PV table 而不是3%的？ |
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s*******d
发帖数: 49 | 26 usually the intrument used in 'repo', the really-short-term financing you
mentioned, is treasurey bond, i.e., bond issued by US government. i guess that
corporate bond of highest rating may be also acceptable, but i highly doubt
it.
convertible or not is totally irrelevant here. |
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m********5
发帖数: 619 | 27 你是不是想说treasury bonds啊
但interest on treasury bonds是taxable的
最起码federal这个level taxable，有些可以免state and city tax
municipal bonds倒是大多免税的, both on federal and state level |
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f*****0
发帖数: 489 | 28 you don't have to introduce equity holding or coupon payments or prepayment
option (on the part of the borrower) to make the problem more complicated
than necessary.
take a zero coupon bond that matures in two years that has a market value of
$100 today but a maturity of $100*(1+x) where x is the effective yield /
return on the bond.
Question:
1) is the bond worth $100 to you: obviously, it may or may not - that's why
you have transactions on any security on any given day. the sellers think
the |
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b***k
发帖数: 2673 | 29 ☆─────────────────────────────────────☆
squash (鼻涕泡泡不是传说) 于 (Mon Jul 14 11:01:49 2008) 提到:
一个同事的老婆的作业，他来问我，我完全不懂
那位大侠能回答一下？2个包子。
Waterfront Properties wants to raise $3.5 million by selling some coupon
bonds at par.. Comparable bonds in the market have an 8 percent annual
coupon, 10 years to maturity, and are selling at 101.7 percent of par. What
coupon rate should Waterfront Properties set on its bonds?
☆─────────────────────────────────────☆
Icare (土豆自风流) 于 (Mon Jul 14 11:11:15 2008) |
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a***m
发帖数: 74 | 30 各位高手，帮忙看看这句话对不对 --
the log return on a zero-coupon bond is equal to the difference of spot and
future interest rates multiplied by the maturity of the bond.
Answ: Wrong. If one holds a zero-coupon bond to its maturity, the log return
would be log(1/Bt)=rT. it should not depend on future interest rate.
多谢！ |
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a***r
发帖数: 594 | 31 I m no big cow but I ll take a stab.
there should be a stock price cut off across which the conversion would be
exercised. far away from the cut off on one side, the bond is a bond, delta
is 0. deep enough on the other side, the bond is for sure to be converted,
so the delta equals the conversion ratio.
in between is a grey area. maybe you can build a merton type of model. you
have the spot price, vol, credit spread to work with. so you can build a log
normal process and calibrate a default barr |
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s***r
发帖数: 1121 | 32 market default risk premium = long term investment bond yield - long term
treasury bond yield
Then what is the relation between this market default risk premium with
corporate bond credit spreads? I thought it is POSITIVE. Am I correct?
thansk. |
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A*****s
发帖数: 13748 | 33 When a bond is first issued, it bears coupon according to its yield, so its
price equals par. However, as time moves on, the credit of the issuer
changes, so the yield changes, but not its coupon. Now the price of the bond
is not simply its par.
You need to understand what is the coupon and what is the yield, and how
they affect the value of the bond. There is no such a simple thing called "
interest" in the world of fixed-income.
valuation |
|
M*S
发帖数: 459 | 34 Andreas 解释corp yield 是由 treasury yield 和 credit spreed 决定的，所以我理
解不同的bond 有不同的coupon，是由两方面决定的，一方面，不同时候treasury
yield 会不一样，另一方面，不同的issuer的 credit不一样。这里你说“yield市场决
定的，基本上是一样的”，不知道你说的什么是一样的？另外既然你提到liquidity，
能不能解释一下怎么评估一个bond的liquidity？liquidity又是如何影响一个 bond 的
coupon？
coupon |
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A*****s
发帖数: 13748 | 35 “coupon rate主要是由投资者的偏好性决定的，是债设计的一部分”
还真是敢说，在国内四大银行呆太久了吧？您干脆说是国务院决定的算了
The coupon rate on a new-issue bond is governed by the yield on bonds of the
same maturity in the secondary market at the time. Why? Because the
borrower must offer a coupon rate that is at least equal to the yield on
existing bonds, otherwise there would be no takers.
http://wfhummel.cnchost.com/bondvalues.html
我看你市场上5%的yield，你能不能发出4% coupon rate的债来
我看你市场上5%的yield，哪个issuer傻乐吧唧的去发6% coupon的债
钱就是你最后借到
的折现因子。买
如果 |
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o**o
发帖数: 3964 | 36 1. You got the rating order wrong
2. both prices will drop; low rating drops more. In terms of spread its
wider.
risk premium, so Baa3/BBB corporate bonds will have a higher yield than Ba2/
BB bonds. High yield, means low Price.所以Baa3/BBB的价格会下降，而题干里是
sell Baa3/BBB bonds，所以所得为正。 |
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m***x
发帖数: 492 | 37 银行买的bond是asset, 要用来支持liabilities. 所以要charge capital
bond,
bond |
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z***e
发帖数: 5600 | 38 主要是认清资金和资本的区别。储户的存款是在银行手里，可以用来买BOND，但这不是
银行的资本金。一般来说银行的Asset/Capital可以在10x上下
bond,
bond |
|
k****y
发帖数: 4083 | 39 牛角尖转进去出不来了？
任何asset都是这个capital计算啊
你拥有一个securitized product跟一个bond情形一样，capital都是为了应付cpty赖账
时的asset损失
bond,
bond |
|
w********0
发帖数: 1211 | 40 首先感谢大家的回复。刚开始的时候我对前几位的回复还有疑问，但一直忙着没空发帖
。后来时不时想想，貌似明白了。大家看看我理解得对不对。
Asset - Liability = Capital
我一开始说银行“自己的钱“其实就是指Capital，也就是把银行想象成了一个普通的
股份公司，股东们入股，于是有了Capital，比如100块。银行可以借钱，比如借来500
块，于是有了500块的liability，同时Asset增加了500块，变成600块。
这么想也许没有太大的错误，但接下来我错误地以为银行买bond或其他东西，用的只是
“自己的”那100块Capital，“别人的”那500块不能动（看来我的思想太小农意识了
），如果真那样的话，当然不存在还不出钱的问题。但就那100块，银行能做多少生意
？同时又何必借那500块呢？
所以事实是，其实整个600块Asset都可以拿去用买东西。这时候就出现了要是买来的东
西亏掉了，还能不能还得起500块的问题，于是就要算Capital。本质上就是要求在最坏
的情况下（确切地说是几乎最坏的情况，99.几个9%的概率下），Asset减去亏掉的钱还
能大... 阅读全帖 |
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w*******y
发帖数: 60932 | 41 Costco has a closeout on the Mea Bonded Leather Sectional:
http://www.costco.com/Browse/Product.aspx?Prodid=11668013&searc matchallpartial&Mo=97&Sp=S&Nr=P_CatalogName:BC&Ns=P_Price|1||P_SignDesc1&N=5000043&whse=BC&ViewAll=999&Ntk=Text_Search&Dr=P_CatalogName:BC&Ne=4000000&D=Closeouts1229&Ntt=Closeouts1229&ec=1&No=39&Ntx=mode matchallpartial&Nty=1&topnav=&s=1
for $499 shipping and handling included.
Limited Time Offer:
$500 discount is reflected in the price. Valid for orders placed December 21
,... 阅读全帖 |
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s**********n
发帖数: 2343 | 42 【 以下文字转载自 Stock 讨论区 】
发信人: oyxy (GloomBoomDoom), 信区: Stock
标 题: OT, QE, USD, bonds, stocks, commodities and gold
发信站: BBS 未名空间站 (Wed Sep 21 15:15:01 2011, 美东)
哎，看到今天FED就决定OT了，我真是觉得这帮凯恩斯主义者简直就是疯了，愚蠢之极
。大概能猜到FED想干什么，理清一下思路说说要点。
首先，FED的基本政策是通过调节Monetary policy来维持美国足够的流动性，进而刺激
消费，因为在他们眼里只有消费不断增长，经济才会好。为了消费保持增长，他们可以
放弃其他原则。类似中国为了保持GDP增长，可以放弃很多原则。
其次，如果要有流动性，要么就是国民储蓄，然后拿存下来的钱投资消费，显然美国不
是这种。要么就是印钱调低利率，像之前两个QE一样，可是这样做的问题是持续印钱会
导致通膨，降低债券收益，降低外国投资者买美债的兴趣，而且你也不知道印出来的钱
最后去了哪里。要么就是今天的扭曲操作，拆东墙补西墙。
再次，FED虽然是坚... 阅读全帖 |
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l**i
发帖数: 8144 | 43 The U.S. federal order of delisting Fannie Mae and Freddie Mac could be
damaging to Chinese institutions holding the bonds of the two juggernaut
home mortgage companies, experts say.
Incomplete estimates put China's holdings of Fannie Mae and Freddie Mac at
between US$300 billion and US$400 billion, accounting for about 20 percent
of its total foreign exchange reserves.
The delisting of the two U.S. mortgage giants from the stock market would
naturally make the bonds of the two companies less at |
|
g******6
发帖数: 942 | 44 【 以下文字转载自 Stock 讨论区 】
发信人: gogo2006 (you got it), 信区: Stock
标 题: 现在把401K全部换成bond是不是也不可靠？
发信站: BBS 未名空间站 (Sun Mar 8 21:40:10 2020, 美东)
还是一步到位全部换成money market？大牛们给点建议？long term tresury bond如何？ |
|
x****o
发帖数: 29677 | 45 http://online.wsj.com/article/SB1000142412788732382670457835437
SEC Says Illinois Hid Pension Troubles
For years, Illinois officials misled investors and shortchanged the state
pension system, leaving future generations of taxpayers to foot the bill, U.
S. securities regulators allege
The Securities and Exchange Commission on Monday charged Illinois with
securities fraud, marking only the second time the agency has filed civil-
fraud charges against a state.
But the agency and the state also ann... 阅读全帖 |
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c*******e
发帖数: 5818 | 46 经济要是没啥问题，民主党可不就剩 通 乌，通 俄，通。。。。。。whatever
CNBC:
‘Bond King’ Gundlach says a recession is ‘very unlikely’ in 2020
DoubleLine Capital CEO and Wall Street “Bond King” Jeffrey Gundlach is not
worried about a possible recession in 2020 even though he doesn’t think
China and the U.S. will get a trade deal done anytime soon.
“We’ve never had a recession without negative leading indicators,”
Gundlach told CNBC’s Scott Wapner on Wednesday. “Leading indicators are
low right now … but numbers that are rolli... 阅读全帖 |
|
h******p
发帖数: 164 | 47 刚check一辆车的vin，发现title那一栏是这么写的TITLE (Title #:###)BONDED/COURT
ORDERED TITLE
BONDED，这是什么意思啊？ |
|
c****e
发帖数: 1984 | 48 Please email me directly
我想要的物品:
Brand New Bond 50: The Complete 22 Film Collection@
可接受的价格(必须明码标价！):
$165 or BO
物品新旧要求:
New
买卖双方谁承担邮寄损失(Required if not code only):
Before you after me.
付款方式说明:
billpay, check, paypal (小额）
其他补充说明:
email to m*******[email protected] 请不要站内信
请按以下格式发信到 ！
Subject: [Label Ready求购 Bond 50 Blu Ray】$165
BBSID: xxxxx
数量： 同时必须注明型号和数量
总金额: (加计算公式)
Zipcode: xxxxx
State: xx
收款方式：Billpay
电话号码： (xxx)xxx-xxxx
广告的有效期:
till got
物品来源:
amazon or bestbuy |
|
|
M*******1
发帖数: 4037 | 50 [求购]Bond 23 (有 Skyfall) @ 105
至少两个。Old ID only, 一包走，Bill Pay Only
我想要的物品:
[求购]Bond 22 (No Skyfall) @ 105
单张面值:
99.99
可接受的价格(必须明码标价！):
105
物品新旧要求:
new, original sealed,
邮寄方式要求:
ML
买卖双方谁承担邮寄损失(Required if not code only):
付款方式说明:
billpay
其他补充说明:
广告的有效期:
Till Got |
|
