Using the transition matrix of the previous problem: A C-rated bond is selling at par on 18
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Using the transition matrix of the previous problem: A C-rated bond is selling at par on 18 July 2007. The bond ’ s maturity is 17 July 2017, it has a coupon (paid annually on 17 July) of 11%, and it has a recovery percentage of λ = 67%. What is the bond’s expected return?
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Dudhat Vaidehi
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