4章 Bonds and Their Valuation 学习课件，财务管理英文版.ppt

Topic 6(Chapter 4)Bonds and Their Valuation Key features of bonds Bond valuation Measuring yield Assessing risk Define the Bond Bond is a long-term contract under which a borrower agrees to make payments of interest and principle, on specific dates, to the holders of the bond. Types of Bonds Treasury bonds Corporate bonds Municipal bonds Foreign bonds U.S. Treasury Yield Curve 3:08 AM 9/9/2009 Key Features of a Bond Financial Asset Valuation Bond Valuation The discount rate (kd) is the opportunity cost of capital, i.e., the rate that could be earned on alternative investments of equal ri