In this table of bonds, what do the columns "Yield Type" (values e.g. "C", "M") and "Duration" mean?
I thought "Duration" would be the number of years to maturity, but the values seem to be something else.
Personal Finance & Money Stack Exchange is a question and answer site for people who want to be financially literate. It only takes a minute to sign up.Sign up to join this community
Investopedia has this definition of duration:
The duration number is a complicated calculation involving present value, yield, coupon, final maturity and call features. Fortunately for investors, this indicator is a standard data point provided in the presentation of comprehensive bond and bond mutual fund information. The bigger the duration number, the greater the interest-rate risk or reward for bond prices.
As for Yield Type, I suspect C would be Coupon bonds while M would be bonds that the interest would be paid at Maturity.