eld of the bond over the period. In a yield accrete asset swap, we seek to exchange this amount for a floating yield based on Libor (Libor+S). Just as a 4% yield on a bond worth $150 at settlement should ‘pay’ $6 net in the first year, <span>the floating amount will be calculated on the price of the bond each year. We don’t know what the pull- to-par will be in a changing yield environment, of course, but we can approximate it over the life of the bond. One sensible way of doing this is by as
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