Reading 54: Yield and Yield Spread Measures for Floating-Rate Instruments
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Book 3: Fixed Income
Last updated 3:32 PM on 6/25/25
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7 Terms
1
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Which value is more stable—Fixed-Rate debt or FRNs?
FRNs
the coupon rate is reset periodically
2
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What is the coupon rate comprised of?
MRR + Fixed Margin
3
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Quoted Margin
the fixed margin above the MRR actually paid
4
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Discount Margin
the margin required to price the FRN at par
5
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At issuance, what does QM = ?
DM
6
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What are bank CDs, repos, and MRRs quoted in?
Add-On Yield on a 365-day basis
7
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What are T-Bills and CP quoted in?
Discount Yield on a 360-day basis
Note 
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