Perpetual bonds have no maturity date, allowing them to pay interest indefinitely, making them appealing for long-term income ...

The formula for calculating MMY standardizes yield calculations based on a 360-day year. This length of year, while not astronomically correct, is a convention commonly used in the money markets ...

Coupon yield, as described above, is the annual payment expressed as a percentage of the bond's face value. Current yield is the annual interest payment calculated as a percentage of the bond's ...