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Getting started in bonds 2nd edition part 6

Nhưng nếu bạn vẫn còn gặp khó khăn và nhận ra nó quan trọng như thế nào, nhiều địa điểm đầu tư trực tuyến cung cấp máy tính TEY.Các nghĩa vụ chung (GOS) hỗ trợ lãi suất các khoản thanh toán cầm cố được thanh toán (ví dụ như, trái phiếu có thể được hỗ trợ bởi một ngân hàng, | Price 139 32 32 1 point 100 points par If a bond s price goes from 100 to 1011 2 the bond is said to have traded up one and a half points. Here s a trick to help remember this point is a percentage point 1 or .01 of the face value. Now look at the last sentence expressed as an equation 1 point 1 of the bond s face value There that should be clearer. If not here s an example Bond A Calculate the value of a point 1 point 1 of the face value Face value 25 000 1 point 1 X 25 000 .01 X 25 000 250 Now that you ve calculated the value of a point you can figure the dollar value of the bond at different prices. Calculate the value the bond priced at 103 Value at 103 Face value 3 points 25 000 3 X 250 25 000 750 25 750 Calculate the value the bond priced at 90 Value at 90 Face value - 10 points 25 000 - 10 X 250 25 000 - 2 500 22 500 140 WHAT IS IT WORTH TO YOU Here are two final items to remember when trying to convert points into dollars. The first is to remember that the dollar value of a point is different for bonds with different face values. For example say two different bonds both fall 3 points. One bond 10 000 face value loses 300 while the other 1000 face value has just a 30 loss. The second item is don t assume that a point always equals 1 because this is true only if you start at par. A decline in price from 89 to 86 is 3 points but it is a drop of 3.37 . An increase from 104 to 107 is 3 points but is a rise of 2.88 . A drop in price from 85 to 70 is 15 points but is a drop of 17.6 . And so on. . . . To calculate percentage change remember ebb ending value minus beginning value divided by beginning value. For example Ending - Beginning Beginning change 86 - 89 89 - 3.37 zyy handle trader lingo for the part of the bond s price that is a whole number. When a bond s price is 981 4 the handle is 98. Something Less than the Point When the price of a bond includes a fraction of a point it is broken down into 1 32 increments 2 32 is referred to as 1 16 4 32 as 1 8 8 32 .