A Treasury bond futures contract (assume a 6% coupon, semiannual payment with 20 years to maturity) has
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A Treasury bond futures contract (assume a 6% coupon, semiannual payment with 20 years to maturity) has a settlement price of 94'22. What is the implied annual yield? Do not round intermediate calculations. Round your answer to two decimal places.
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Financial management theory and practice
ISBN: 978-1439078099
13th edition
Authors: Eugene F. Brigham and Michael C. Ehrhardt
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