read bet ween the swap rate and the bond yield and not to market directio n. T his transaction gives rise to a trade on the yi eld/yield spread, which is defined as the yield o f the bond less the swap rate of a matched maturity swap. <span>The investor makes money as the spread widens since the bond yield fa lls relative to the swap rate. The advantage of the yield/yield me thodolog y is its simplicity. Yield/yield ass et swaps are easy to execute and monitor. Most short term (less than three to six months) vie ws on
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