我也不知道，那些是我google的，具体term太复杂了我没研究过再加上我们这没州税 so
高风险高收益。
自己顶一下来问个新问题，这个5%的yield是怎么计算出来的？ Coupon(3.125)/Price(76.535)=4.08%的年回报率。 然后是面值（100-76.535)/76.535=30.66%的一次性capital gain. 但是怎么得到这个5% yield的？
用gpt算了下，yield确实是5%，跟我们传统理解的5%利率不同是因为债券年化收益考虑了未来现金流折现，国债的票息逐年发放，削弱了复利效应。
20 年后fidelity还在么？withdraw的时候怎么办？国债20年后肯定还有，但官网不让出金和入金不一样，改很麻烦，我之前遇到过这个问题。
国债是稳，可惜稳定赔钱。
政府公布的CPI说，比起疫情以前，美元只贬值了22%。你信吗？
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这招好：
can you tell me how to calculate the apy for treausuries bond with coupon is 3.125, price is 76.535, 20 years, redemption value is 100?
ChatGPT said:
ChatGPT
To calculate the Annual Percentage Yield (APY) for a Treasury bond, you use the following formula, which accounts for both the coupon payments and the price appreciation over the bond’s lifetime:
APY=(Coupon Payment+Price Appreciation Per YearPrice)1Years−1APY = \left( \frac{\text{Coupon Payment} + \text{Price Appreciation Per Year}}{\text{Price}} \right)^{\frac{1}{\text{Years}}} - 1APY=(PriceCoupon Payment+Price Appreciation Per Year)Years1−1
Here’s how you can compute it step by step:
1. Gather the data:
- Coupon rate = 3.125%3.125%3.125%
- Face value (Redemption value) = 100100100
- Price = 76.53576.53576.535
- Years to maturity = 202020
2. Calculate the coupon payment:
Coupon Payment=Face Value×Coupon Rate=100×0.03125=3.125\text{Coupon Payment} = \text{Face Value} \times \text{Coupon Rate} = 100 \times 0.03125 = 3.125Coupon Payment=Face Value×Coupon Rate=100×0.03125=3.125
3. Calculate the total price appreciation:
The bond will appreciate from 76.53576.53576.535 (current price) to 100100100 (redemption value).
Price Appreciation (Total)=Redemption Value−Price=100−76.535=23.465\text{Price Appreciation (Total)} = \text{Redemption Value} - \text{Price} = 100 - 76.535 = 23.465Price Appreciation (Total)=Redemption Value−Price=100−76.535=23.465
4. Calculate the yearly price appreciation:
Price Appreciation Per Year=Price Appreciation (Total)Years=23.46520=1.17325\text{Price Appreciation Per Year} = \frac{\text{Price Appreciation (Total)}}{\text{Years}} = \frac{23.465}{20} = 1.17325Price Appreciation Per Year=YearsPrice Appreciation (Total)=2023.465=1.17325
5. Calculate the yearly cash inflow:
This is the sum of the coupon payment and the yearly price appreciation:
Yearly Cash Inflow=Coupon Payment+Price Appreciation Per Year=3.125+1.17325=4.29825\text{Yearly Cash Inflow} = \text{Coupon Payment} + \text{Price Appreciation Per Year} = 3.125 + 1.17325 = 4.29825Yearly Cash Inflow=Coupon Payment+Price Appreciation Per Year=3.125+1.17325=4.29825
6. Compute the APY:
Substitute the values into the APY formula:
APY=(Yearly Cash InflowPrice)11−1APY = \left( \frac{\text{Yearly Cash Inflow}}{\text{Price}} \right)^{\frac{1}{1}} - 1APY=(PriceYearly Cash Inflow)11−1 APY=(4.2982576.535)−1APY = \left( \frac{4.29825}{76.535} \right) - 1APY=(76.5354.29825)−1
7. Final Calculation:
APY=0.05615=5.615%APY = 0.05615 = 5.615%APY=0.05615=5.615%
Conclusion:
The APY for this bond is approximately 5.62%.
这完全取决于人的抗风险程度呀。国债是fixed income几乎没有风险的
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20年的股指，当然比国债稳。sp500持有时间越长，平均年化10%的回报率就越稳定。
不是算出来的。这个yield to maturity，是通过国债价格在市场中一笔一笔交易出来的，时时刻刻都在变。yield to maturity的上涨就是投资长期国债的风险。所以，千万千万不要把长期国债理解成长期CD！
只有Coupon rate不会变。
这个视频里有详细解释：
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不是快退休了买20年国债不如VOO
短期还能理解怕股市回调
论坛有多少人年纪到了voo风险都承受不起的年纪
建议和TLT神贴合并
在fidelity买20年
中途能卖吗
但是所有跟国债一样稳的东西利率也都差不多
当然可以卖 随时都可以
哪有国债一样稳的产品？
比如 CD、AAA 的债券，这些的利率基本都跟国债一致；算不上一样稳但也是差不多了
你是真不怕股灾
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20年太长，5年5%我会考虑