Not exact matches
Note that the real interest rates exceed reported for TIPS because I have adjusted
yields to
reflect the 35 basis point
average difference between the Consumer Price Index used in calculating TIPS coupons and the Personal Consumption Expenditures deflator targeted by the Fed.
This is the difference between the 5 - year nominal treasury
yield and the 5 - year TIPs
yield and is suppose to
reflect treasury market's forecast for the
average annual inflation rate over the next five years.
While spreads between
yields on highly - rated corporate bonds and government bonds have remained above their historical
averages, this continues to
reflect strong demand for Commonwealth Government bonds rather than concerns about corporate credit quality.
Generally, the distribution
yield of a fund
reflects the
average yield at which the underlying bonds were purchased.
The SEC
yield reflects the
average market
yield (today) of the bonds.
An alternative, and perhaps more likely, interpretation is that the market expects that the target cash rate will remain below its
average over recent years for some time, and this expectation is
reflected in bond
yields.
By itself, this below -
average spread might normally be taken to imply slightly tighter - than -
average conditions, although a more likely interpretation is that bond
yields have been held down by offshore bond - market developments
reflecting expectations that short - term interest rates around the world will remain below
average for some time.
Grape Harvest
Yields 30 % to 40 % Below 3 Year
Average in Napa With Napas earliest harvest on record expected to finish up next week, the Napa Valley Grapegrowers held their annual harvest press conference at Cliff Lede Vineyards in Yountville this morning to
reflect on the growing season and look ahead...
What it means: Based on the most recent 30 - day period, this
yield reflects the interest earned during the period by the
average investor in the fund, after deducting the fund's expenses for the period.
Earnings
Yield reflects a company's past four - year
average earnings before interest and tax, divided by its current enterprise value (enterprise value = market value + debt — cash).
Pursuant to § 230.6 (b), however, if an institution uses the
average daily balance method and calculates interest for a period other than the statement period, the annual percentage
yield earned shall
reflect the relationship between the amount of interest earned and the
average daily balance in the account for that other period.
The annual percentage
yield earned for periodic statements under § 230.6 (a) is an annualized rate that
reflects the relationship between the amount of interest actually earned on the consumer's account during the statement period and the
average daily balance in the account for the statement period.
On
average over the past 30 years, when U.S. 5 - year bond
yields rose, about three - quarters of the increase was
reflected in Canadian 5 - year bonds.
[Note also: Two companies end up unfairly ranked from a P / B perspective: i) Patrizia has an external EUR 10 billion of Assets under Management (AUM), which isn't
reflected in its NAV, and ii) Grand City has an 8.4 %
yield — presuming convergence with the sector
average, it would be much more reasonably priced].
At times when the
yield spread was less than 80 basis points — when REIT dividend
yields were extraordinarily high,
reflecting REIT stock prices that were especially low relative to current distributions — REIT performance over the next year tended to be especially strong, with total returns that
averaged 20.81 percent and outpaced the broad stock market by 5.67 percentage points.
At times when the
yield spread was greater than 180 basis points — that is, when REIT dividend
yields were extraordinarily low,
reflecting REIT stock prices that were especially high relative to their current distributions — REIT performance over the next year tended to be weak, with total returns that
averaged 6.98 percent and underperformed the broad stock market by 1.84 percentage points.