What would cause a 90-day agency discount note to accrue faster in the first month? The bond in question was purchased on Jan 10th and accrued, roughly, 50% in Jan, 25% in Feb and 25% in March. The flight to quality didn’t really hit the market until Feb/Mar so I discounted that theory… Any thoughts?
Need more context. A significant decline in Interest rates ?
Will answering this help me pass the CFA? If so, state the LOS…otherwise, go to the general forum.
What the heck is this? Is it something in the L3 curriculum?