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Quotes of the day:
Love cannot endure indifference. It needs to be wanted. Like a lamp, it needs to be fed out of the oil of another\'s heart, or its flame burns low.
Yield to average life is the calculation of a bond that is systematically retired throughout its life. The trustee of a sinking fund bond will use the yield-to-average life calculation to help them determine if they should re-buy some of the bonds on the open market. This is typical when the bonds are trading below par. The average life, in this case, may be significantly less than the actual number of years until maturity.
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