Main category
Economics (General Management)
Abstract
Canadian Government Bonds are traded and quoted based on yield to maturity (YTM). The actual settlement clean price depends on the number of coupons available. For bonds with a single remaining coupon, the bond trades at a pure discount (i.e., like a money market instrument). For bonds with multiple remaining coupons, these are priced with a special formula.
Further reading
https://ia601507.us.archive.org/27/items/cadBondCurve/cadBondCurve.pdf
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