HEDGED YIELD
The Hedged Yield
A foreign yield is not your yield until the hedge is paid for.
The Hedged YieldBondStats fixed-income workstation
POSITION INPUTS
RETURN BRIDGE
Hedged yield—
Hedge adjustment—
Price return—
INTERPRETATION
Hedge economics
Translate a local bond yield into home-currency economics after forward carry, basis and expected price return. The purpose is decomposition: show which assumption creates the result and which risk remains outside the calculation.
Model boundary
This workstation isolates the stated drivers. Optionality, liquidity, tax, settlement and instrument-specific conventions can change realized economics and should be layered in separately.
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