Commercial Paper Yields
Like Treasury Bills, yields on commercial paper are quoted on a discount basis—the discount return to commercial paper holders is the annualized percentage difference between the price paid for the paper and the par value using a 360-day year. Specifically: icp(dy) = x (360/h)
and when converted to a bond equivalent yield:
icp(bey) = x (365/h)
Read more about this topic: Commercial Paper
Famous quotes containing the words commercial, paper and/or yields:
“A commercial society whose members are essentially ascetic and indifferent in social ritual has to be provided with blueprints and specifications for evoking the right tone for every occasion.”
—Marshall McLuhan (1911–1980)
“The fate of the country does not depend on how you vote at the polls,—the worst man is as strong as the best at that game; it does not depend on what kind of paper you drop into the ballot- box once a year, but on what kind of a man you drop from your chamber into the street every morning.”
—Henry David Thoreau (1817–1862)
“All the world over, the picturesque yields to the pocketesque.”
—Herman Melville (1819–1891)