FIX 4.3 : YieldType <235> field

Type: String

Used In

Description

Type of yield.

Valid values:

AFTERTAX = After Tax Yield (Municipals) - The yield on the bond net of any tax consequences from holding the bond. The discount on municipal securities can be subject to both capital gains taxes and ordinary income taxes. Calculated from dollar price.

ANNUAL = Annual Yield - The annual interest or dividend income an investment earns, expressed as a percentage of the investment's total value.

ATISSUE = Yield At Issue (Municipals) - The yield of the bond offered on the issue date.

AVGLIFE = Yield To Average Life - The yield assuming that all sinks (mandatory and voluntary) are taken at par. This results in a faster paydown of debt; the yield is then calculated to the average life date.

AVGMATURITY = Yield To Average Maturity - The yield achieved by substituting a bond's average maturity for the issue's final maturity date.

BOOK = Book Yield - The yield of a security calculated by using its book value instead of the current market price. This term is typically used in the US domestic market.

CALL = Yield to Next Call - The yield of a bond to the next possible call date.

CHANGE = Yield Change Since Close - The change in the yield since the previous day's closing yield.

CLOSE = Closing Yield - The yield of a bond based on the closing price.

COMPOUND = Compound Yield - The yield of certain Japanese bonds based on its price. Certain Japanese bonds have irregular first or last coupons, and the yield is calculated compound for these irregular periods.

CURRENT = Current Yield - Annual interest on a bond divided by the market value. The actual income rate of return as opposed to the coupon rate expressed as a percentage.

GROSS = True Gross Yield - Yield calculated using the price including accrued interest, where coupon dates are moved from holidays and weekends to the next trading day.

GOVTEQUIV = Government Equivalent Yield - Ask yield based on semi-annual coupons compounding in all periods and actual/actual calendar.

INFLATION = Yield with Inflation Assumption - Based on price, the return an investor would require on a normal bond that would make the real return equal to that of the inflation-indexed bond, assuming a constant inflation rate.

INVERSEFLOATER = Inverse Floater Bond Yield - Inverse floater semi-annual bond equivalent rate.

LASTCLOSE = Most Recent Closing Yield - The last available yield stored in history, computed using price.

LASTMONTH = Closing Yield Most Recent Month - The yield of a bond based on the closing price as of the most recent month's end.

LASTQUARTER = Closing Yield Most Recent Quarter - The yield of a bond based on the closing price as of the most recent quarter's end.

LASTYEAR = Closing Yield Most Recent Year - The yield of a bond based on the closing price as of the most recent year's end.

LONGAVGLIFE = Yield to Longest Average Life - The yield assuming only mandatory sinks are taken. This results in a lower paydown of debt; the yield is then calculated to the final payment date.

LONGEST = Yield to Longest Average (Sinking Fund Bonds) - The yield assuming only mandatory sinks are taken. This results in a slower paydown of debt; the yield is then calculated to the final payment date.

MARK = Mark To Market Yield - An adjustment in the valuation of a securities portfolio to reflect the current market values of the respective securities in the portfolio.

MATURITY = Yield to Maturity - The yield of a bond to its maturity date.

NEXTREFUND = Yield To Next Refund (Sinking Fund Bonds) - Yield assuming all bonds are redeemed at the next refund date at the redemption price.

OPENAVG = Open Average Yield - The average yield of the respective securities in the portfolio.

PUT = Yield to Next Put - The yield to the date at which the bond holder can next put the bond to the issuer.

PREVCLOSE = Previous Close Yield - The yield of a bond based on the closing price 1 day ago.

PROCEEDS = Proceeds Yield - The CD equivalent yield when the remaining time to maturity is less than two years.

SEMIANNUAL = Semi-annual Yield - The yield of a bond whose coupon payments are reinvested semi-annually

SHORTAVGLIFE = Yield to Shortest Average Life - same as AVGLIFE above.

SHORTEST = Yield to Shortest Average (Sinking Fund Bonds) - The yield assuming that all sinks (mandatory and voluntary) are taken. This results in a faster paydown of debt; the yield is then calculated to the final payment date.

SIMPLE = Simple Yield - The yield of a bond assuming no reinvestment of coupon payments. (Act/360 day count)

TAXEQUIV = Tax Equivalent Yield - The after tax yield grossed up by the maximum federal tax rate of 39.6%. For comparison to taxable yields.

TENDER = Yield to Tender Date - The yield on a Municipal bond to its mandatory tender date.

TRUE = True Yield - The yield calculated with coupon dates moved from a weekend or holiday to the next valid settlement date.

VALUE1/32 = Yield Value Of 1/32 - The amount that the yield will change for a 1/32nd change in price.

WORST = Yield To Worst Convention - The lowest yield to all possible redemption date scenarios.

(Note tag # was reserved in FIX 4.1, added in FIX 4.3)

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