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:
“The cultivation of one set of faculties tends to the disuse of others. The loss of one faculty sharpens others; the blind are sensitive in touch. Has not the extreme cultivation of the commercial faculty permitted others as essential to national life, to be blighted by disease?”
—J. Ellen Foster (1840–1910)
“The hand that signed the paper felled a city;
Five sovereign fingers taxed the breath,
Doubled the globe of dead and halved a country;
These five kings did a king to death.”
—Dylan Thomas (1914–1953)
“A new person is to me a great event, and hinders me from sleep. I have often had fine fancies about persons which have given me delicious hours; but the joy ends in the day; it yields no fruit.”
—Ralph Waldo Emerson (1803–1882)