Various yield measures

The various yield measures keep my head spinning and I often get dizzy whenever think of them… So the methodology to calculate YTM/yield to call/yield to put/yield to floater/yield to worst is all the same: total value of PV of each CF. Several practice problems are using trial-and-error approach method to find the give yields that matches the bond price. If any of this kind appears on our test, I doubt whether I can do it accurately in less 3 minutes - even with the help of calculator! Yield to T-bills has its own formula / Current Yield has its own too / Cash Flow Yield is calculated as EAY? compound the monthly interest? YTM = BEY? Then BEY and EAY conversion… Did I miss anything?

think of YTM as IRR. Yield to call/put -> YTM or IRR if call/put are executed.

BTW - you aren’t alone in that. There are probably some people in the world who remember all the different conversions and market conventions, but not many. You learn this stuff for the exam, remember the ones that matter in your area of finance, and then look up the other ones on investopedia when you forget.

Good idea. You seem always lighten me up, thanks.