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@t.o.
Ah awesome - I’ll read that.
A question: When the “yield goes up”, does it actually?
IE 10% coupon on £100 bond. Market value of bond drops to £90, effective yield 11.1111%.
I may have just answered my own question. Yield and face value coupon/interest are not the same thing. But, if you bought it for £100, then for most purposes*, you’re still getting 10% return on what you paid, regardless of current face value?