固定收益證券thppt課件-在線(xiàn)瀏覽
2025-06-23 22:05本頁(yè)面
【正文】 useful in the annuities market to fund retirement benefits that are indexed to inflation. (e) Tax treatment ? The . Treasury says the appreciation in the principal amount due to inflation and the resulting increase in coupon must be taxed. ? At high enough inflation rates, taxable investors may experience negative cash flows from TIPS. ? taxing inflation accruals may, in fact, be necessary to improve the liquidity of the TIPS market. (f) CASHFLOW STRUCTURE CPIt ： the level of the index at date t, CPIT ： the level of the index on the maturity date T. 1 ,Indexed zero coupon structure ? Presents no reinvestment risk and presents the best protection from the risk of inflation. ? the tax treatment in many countries would generate negative cash flows to taxable investors 2 ,Principalindexed structure 3, Interestindexed structure REAL YIELDS, NOMINAL YIELDS, AND BREAKEVEN INFLATION CASH FLOWS, PRICES, YIELDS, AND RISKS OF TIPS 。第六講 通脹指數(shù)化債券 INFLATIONINDEXED BONDS ? inflationlinked bonds ? linkers ? designed to cut out the inflation risk of an investment. ? The first
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