United States - BofA Merrill Lynch US High Yield BB Option-Adjusted Spread - Data

Option yield chart, United States - BofA Merrill Lynch US High Yield Option-Adjusted Spread - Data


    Original issue zero coupon bonds, "global" securities debt issued simultaneously in the eurobond and US domestic bond marketsa securities and pay-in-kind securities, including toggle notes, qualify for inclusion in the Index.

    The option-adjusted spread OAS is the measurement of the spread of a fixed-income security rate and the risk-free rate of returnwhich is then adjusted to take into account an embedded option. Typically, an analyst uses Treasury yields for the risk-free rate. The spread is added to the fixed-income security price to make the risk-free bond price the same as the bond.

    Callable perpetual securities qualify provided they are at least one year from the first call date. Fixed-to-floating rate securities also qualify provided they are callable within the fixed rate period and are at least one year from the last call prior to the date the bond transitions from a fixed to a floating rate security.

    Перистальтическое поле сразу же подхватило их и понесло .

    DRD-eligible and defaulted securities are excluded from the Index. ICE BofA Explains the Construction Methodology of this series as: Index constituents are capitalization-weighted option yield chart on their current amount outstanding.

    With the exception of U. Accrued interest for U.

    option yield chart

    Cash flows from bond payments that are received during the month are retained in the index until the end of the month and then are removed as part of the rebalancing. Cash does not earn any reinvestment income while it is held in the Index.

    option yield chart

    The Index is rebalanced on the last calendar day of the month, based on information available up to and including the third business day before the last business day of the month. Option yield chart that meet the qualifying criteria are included in the Index for the following month.

    option yield chart

    Issues that no longer meet the criteria during the course of the month remain in the Index until the next month-end rebalancing at which point they are removed from the Index. When the last calendar day of the month takes place on the weekend, weekend observations will occur as a result of month ending accrued interest adjustments.

    option yield chart

    Reprinted with permission.