From: owner-ammf-digest@smoe.org (alt.music.moxy-fruvous digest) To: ammf-digest@smoe.org Subject: alt.music.moxy-fruvous digest V14 #4688 Reply-To: ammf@fruvous.com Sender: owner-ammf-digest@smoe.org Errors-To: owner-ammf-digest@smoe.org Precedence: bulk alt.music.moxy-fruvous digest Sunday, August 2 2020 Volume 14 : Number 4688 Today's Subjects: ----------------- You can complete woodworking projects in the small fraction of the time [] ---------------------------------------------------------------------- Date: Sun, 2 Aug 2020 09:53:54 -0400 From: "Woodworking Projects" Subject: You can complete woodworking projects in the small fraction of the time You can complete woodworking projects in the small fraction of the time http://visionns.buzz/Hb7s2azqFNFdFHxIgVtYbS5Rp70sbCn7x7JNM9fHzu7NYTM http://visionns.buzz/4S3bx8qqkIh2LwIHYK8QUGbjclsje0LTZt23FuSs77jyLwY9 count, and pay par amount at maturity rather than paying coupons. This is called a discount bond. Bonds are not necessarily issued at par (100% of face value, corresponding to a price of 100), but bond prices will move towards par as they approach maturity (if the market expects the maturity payment to be made in full and on time) as this is the price the issuer will pay to redeem the bond. This is referred to as "pull to par". At the time of issue of the bond, the coupon paid, and other conditions of the bond, will have been influenced by a variety of factors, such as current market interest rates, the length of the term and the creditworthiness of the issuer. These factors are likely to change over time, so the market price of a bond will vary after it is issued. The interest payment ("coupon payment") divided by the current price of the bond is called the current yield (this is the nominal yield multiplied by the par value and divided by the price). There are other yield measures that exist such as the yield to first call, yield to worst, yield to first par call, yield to put, cash flow yield and yield to maturity. The relationship between yield and term to maturity (or alternatively between yield and the weighted mean term allowing for both interest and capital repayment) for otherwise identical bonds derives the yield curve, a graph plotting this relationship. If the bond includes embedded options, the valuation is more difficult and combines option pricing with discounting. Depending on the type of option, the option price as calculated is either added to or subtracted from the price of the "straight" portion. See further under Bond option#Embedded options. This total is then the value of the bond. More sophisticated lattice- or simulation-based techniques may (also) be employed. Bond markets, unlike stock or share markets, sometimes do not have a centralized exchange or trading system. Rather, in most developed bond markets such as the U.S., Japan and western Europe, bonds trade in decentralized, dealer-based over-the-counter markets. In such a market, market liquidity is provided by dealers and other market participants committing risk capital to trading activity. In the bond market, when an investor buys or sells a bond, the counterparty to the trade is almost always a bank or securities firm acting as a dealer. In some cases, when a dealer buys a bond from an investor, the de ------------------------------ End of alt.music.moxy-fruvous digest V14 #4688 **********************************************