In the latter case you earn about 5 years worth of coupons all in one instant while the
buyer at lower yields has to wait 10 years to earn the same 10 %.
According to the terms of the ECB's program, it has to maintain a fixed national distribution of purchases, and is further constrained in scope by being unable to buy any issues
trading at a lower yield than its deposit rate.
The tests showed viscous deformation and constant creep
movement at lower yield stress and slip - stick behavior at higher yield stress.
Our first results demonstrate our ability to produce retinal precursors (
even at a low yield) and mainly Retinal Pigment Epithelial (RPE) cells at a high yield (99 %) from hES and iPS cells.
I'm open to new ideas here, but it seems that the liquidity situation in Fed funds is volatile enough that some banks end up
snapping at low yields at some point each day.
Market indicators suggest that investors believe the relative risk of insuring the underlying credits in nearly every sector has dropped, or that these underlying credits are willing to take on more
risk at a lower yield.
Since the term risk of a good direct 5 - year CD already is so low, there's not much point in buying shorter - term
CDs at lower yields to reduce term risk.
However, as bond yields have declined globally, the Fund's investment team have been
reinvesting at lower yields as these positions mature.
Yields on callable bonds tend to be higher than yields on noncallable, «bullet maturity» bonds because the investor must be rewarded for taking the risk the issuer will call the bond if interest rates decline, forcing the investor to reinvest the
proceeds at lower yields.
The clearest place to see the impacts of ETFs and indexing is in bonds, where bonds that are in the indexes
trade at lower yields and higher prices than similar non-index bonds.
The duration that's relevent here is modified duration (spreadsheet function MDURATION), which is slightly lower than Macaulay duration (spreadsheet function DURATION), but the difference is small enough to ignore,
especially at low yields.
They are still available in the secondary market but
at lower yields.
With the Fed engaging in financial repression (maybe that should be oppression, the only role of the Fed is to steal from savers...) there are many corporate bonds being issued
at low yields, some of which are at lower yields than losses that we experience during crises for the ratings class.
Periodically, high quality corporate bonds have traded
at lower yields than sovereign debt.
Very highly rated corporates offer some diversification, so they trade
at lower yields than the behemoth that needs more and more liquidity.
Glaciers are natural reservoirs that yield their resource primarily on warm dry summer days when other sources are
at their lowest yield.