11.   The bond equivalent yield is the coupon of a bond which when trading at par would give the same yield as a discount security.

12.   The bond equivalent yield will be.

13.   The simple equivalent yield is, from,.

14.   The current yield is therefore only really useful when there is a long time to maturity, in which case the capital gain or loss element will be small.

15.   The yield to maturity is the most frequently used measure of the return from holding a bond.

16.   The yield to maturity is equivalent to the money-weighted rate of return or the internal rate of return on the bond.

17.   The net yield to maturity is the yield to maturity that results from multiplying d in by.

18.   The net redemption yield is lower than the gross redemption yield.

19.   But eurobonds make annual payments, and the appropriate method of calculating the yield to maturity is to use annual discounting.

20.   However, the two yields to maturity are not then comparable directly.