{"id":29903,"date":"2023-12-07T08:46:53","date_gmt":"2023-12-07T08:46:53","guid":{"rendered":"https:\/\/masterskills.org\/blog\/co-so-loi-suat-yield-basis-la-gi-tinh-toan-co-so-loi-suat.html"},"modified":"2023-12-07T08:46:53","modified_gmt":"2023-12-07T08:46:53","slug":"co-so-loi-suat-yield-basis-la-gi-tinh-toan-co-so-loi-suat","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/co-so-loi-suat-yield-basis-la-gi-tinh-toan-co-so-loi-suat.html","title":{"rendered":"C\u01a1 s\u1edf l\u1ee3i su\u1ea5t (Yield Basis) l\u00e0 g\u00ec? T\u00ednh to\u00e1n c\u01a1 s\u1edf l\u1ee3i su\u1ea5t"},"content":{"rendered":"
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\"C\u01a1<\/div>
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\u1ea2nh minh h\u1ecda: Forbes<\/p>\n<\/figcaption><\/figure>\n

C\u01a1 s\u1edf l\u1ee3i su\u1ea5t<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

C\u01a1 s\u1edf l\u1ee3i su\u1ea5t<\/b> trong ti\u1ebfng Anh l\u00e0 Yield Basis.<\/b><\/p>\n

C\u01a1 s\u1edf l\u1ee3i su\u1ea5t<\/b> l\u00e0 m\u1ed9t ph\u01b0\u01a1ng ph\u00e1p b\u00e1o gi\u00e1 c\u1ee7a ch\u1ee9ng kho\u00e1n c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh d\u01b0\u1edbi d\u1ea1ng ph\u1ea7n tr\u0103m l\u1ee3i nhu\u1eadn, ch\u1ee9 kh\u00f4ng ph\u1ea3i l\u00e0 gi\u00e1 tr\u1ecb \u0111\u1ed3ng ti\u1ec1n. \u0110i\u1ec1u n\u00e0y cho ph\u00e9p c\u00e1c tr\u00e1i phi\u1ebfu v\u1edbi c\u00e1c \u0111\u1eb7c \u0111i\u1ec3m kh\u00e1c nhau d\u1ec5 d\u00e0ng \u0111\u01b0\u1ee3c so s\u00e1nh.<\/p>\n

Hi\u1ec3u v\u1ec1 c\u01a1 s\u1edf l\u1ee3i su\u1ea5t<\/font><\/h3>\n

Kh\u00f4ng gi\u1ed1ng nh\u01b0 c\u1ed5 phi\u1ebfu, \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft b\u1eb1ng \u0111\u00f4 la, h\u1ea7u h\u1ebft c\u00e1c tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c ni\u00eam y\u1ebft v\u1edbi c\u01a1 s\u1edf l\u1ee3i su\u1ea5t. V\u00ed d\u1ee5: gi\u1ea3 s\u1eed m\u1ed9t c\u00f4ng ty \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu v\u1edbi t\u1ec9 l\u1ec7 coupon 6,75% v\u00e0 c\u00f3 th\u1eddi h\u1ea1n 10 n\u0103m k\u1ec3 t\u1eeb ng\u00e0y ph\u00e1t h\u00e0nh. Tr\u00e1i phi\u1ebfu m\u1ec7nh gi\u00e1 1.000 \u0111\u00f4 la \u0111ang giao d\u1ecbch v\u1edbi gi\u00e1 tr\u1ecb b\u1eb1ng 940 \u0111\u00f4 la.<\/p>\n

C\u00e1ch t\u00ednh c\u01a1 s\u1edf l\u1ee3i su\u1ea5t<\/font><\/h3>\n

C\u01a1 s\u1edf l\u1ee3i su\u1ea5t c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00f4ng th\u1ee9c l\u1ee3i su\u1ea5t hi\u1ec7n h\u00e0nh nh\u01b0 sau:<\/b><\/p>\n

C\u01a1 s\u1edf l\u1ee3i su\u1ea5t = Coupon \/ Gi\u00e1 mua<\/p>\n

Theo v\u00ed d\u1ee5 tr\u00ean, coupon tr\u1ea3 h\u00e0ng n\u0103m l\u00e0 6,75% x $ 1.000 = $ 67,50. Do \u0111\u00f3, c\u01a1 s\u1edf l\u1ee3i su\u1ea5t l\u00e0 $ 67,50 \/ $ 940 = 0,0718, ho\u1eb7c 7,18%. Tr\u00e1i phi\u1ebfu s\u1ebd \u0111\u01b0\u1ee3c b\u00e1o gi\u00e1 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1edbi c\u01a1 s\u1edf l\u1ee3i su\u1ea5t l\u00e0 7,18%. B\u00e1o gi\u00e1 l\u1ee3i su\u1ea5t cho m\u1ed9t nh\u00e0 giao d\u1ecbch tr\u00e1i phi\u1ebfu r\u1eb1ng tr\u00e1i phi\u1ebfu hi\u1ec7n \u0111ang giao d\u1ecbch v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u v\u00ec c\u01a1 s\u1edf l\u1ee3i su\u1ea5t c\u1ee7a n\u00f3 l\u1edbn h\u01a1n l\u00e3i su\u1ea5t coupon (6,75%). N\u1ebfu c\u01a1 s\u1edf l\u1ee3i su\u1ea5t th\u1ea5p h\u01a1n l\u00e3i su\u1ea5t coupon, \u0111i\u1ec1u n\u00e0y s\u1ebd ch\u1ec9 ra r\u1eb1ng tr\u00e1i phi\u1ebfu \u0111ang giao d\u1ecbch \u1edf m\u1ee9c cao v\u00ec l\u00e3i su\u1ea5t coupon cao h\u01a1n l\u00e0m t\u0103ng gi\u00e1 tr\u1ecb c\u1ee7a tr\u00e1i phi\u1ebfu tr\u00ean th\u1ecb tr\u01b0\u1eddng. M\u1ed9t nh\u00e0 giao d\u1ecbch tr\u00e1i phi\u1ebfu sau \u0111\u00f3 c\u00f3 th\u1ec3 so s\u00e1nh tr\u00e1i phi\u1ebfu v\u1edbi nh\u1eefng tr\u00e1i phi\u1ebfu kh\u00e1c trong c\u00f9ng m\u1ed9t ng\u00e0nh.<\/p>\n

C\u01a1 s\u1edf l\u1ee3i su\u1ea5t c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00f4ng th\u1ee9c l\u1ee3i t\u1ee9c chi\u1ebft kh\u1ea5u ng\u00e2n h\u00e0ng nh\u01b0 sau:<\/b><\/p>\n

r = (Chi\u1ebft kh\u1ea5u \/ m\u1ec7nh gi\u00e1) x (360 \/ t)\u00a0<\/p>\n

trong \u0111\u00f3\u00a0<\/p>\n

r = l\u1ee3i su\u1ea5t h\u00e0ng n\u0103m\u00a0<\/p>\n

chi\u1ebft kh\u1ea5u = m\u1ec7nh gi\u00e1 – gi\u00e1 mua\u00a0<\/p>\n

t = th\u1eddi gian c\u00f2n l\u1ea1i tr\u01b0\u1edbc khi \u0111\u00e1o h\u1ea1n\u00a0<\/p>\n

360 = qui \u01b0\u1edbc ng\u00e2n h\u00e0ng cho s\u1ed1 ng\u00e0y trong m\u1ed9t n\u0103m<\/p>\n

Kh\u00f4ng gi\u1ed1ng nh\u01b0 l\u1ee3i su\u1ea5t hi\u1ec7n h\u00e0nh, l\u1ee3i t\u1ee9c chi\u1ebft kh\u1ea5u c\u1ee7a ng\u00e2n h\u00e0ng l\u1ea5y gi\u00e1 tr\u1ecb chi\u1ebft kh\u1ea5u t\u1eeb m\u1ec7nh gi\u00e1 v\u00e0 bi\u1ec3u th\u1ecb n\u00f3 nh\u01b0 m\u1ed9t ph\u1ea7n c\u1ee7a m\u1ec7nh gi\u00e1, kh\u00f4ng ph\u1ea3i gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a tr\u00e1i phi\u1ebfu. Ph\u01b0\u01a1ng ph\u00e1p t\u00ednh to\u00e1n c\u01a1 s\u1edf l\u1ee3i su\u1ea5t gi\u1ea3 \u0111\u1ecbnh l\u00e3i su\u1ea5t l\u00e0 l\u00e3i \u0111\u01a1n. T\u00edn phi\u1ebfu kho b\u1ea1c ch\u1ec9 \u0111\u01b0\u1ee3c b\u00e1o gi\u00e1 tr\u00ean c\u01a1 s\u1edf chi\u1ebft kh\u1ea5u ng\u00e2n h\u00e0ng.<\/p>\n

V\u00ed d\u1ee5, gi\u1ea3 s\u1eed t\u00edn phi\u1ebfu kho b\u1ea1c c\u00f3 m\u1ec7nh gi\u00e1 1.000 \u0111\u00f4 la \u0111\u01b0\u1ee3c b\u00e1n v\u1edbi gi\u00e1 970 \u0111\u00f4 la. N\u1ebfu th\u1eddi gian \u0111\u00e1o h\u1ea1n l\u00e0 180 ng\u00e0y, c\u01a1 s\u1edf l\u1ee3i su\u1ea5t s\u1ebd l\u00e0:<\/p>\n

r = [($ 1.000 – $ 970) \/ $ 1.000] x (360\/180) = ($ 30 \/ $ 1.000) x 2 = 0,06<\/p>\n

V\u1eady r = 0,06, ho\u1eb7c 6%<\/p>\n

V\u00ec t\u00edn phi\u1ebfu kho b\u1ea1c kh\u00f4ng c\u00f3 coupon, tr\u00e1i ch\u1ee7 s\u1ebd ki\u1ebfm \u0111\u01b0\u1ee3c ti\u1ec1n l\u00e3i b\u1eb1ng v\u1edbi chi\u1ebft kh\u1ea5u n\u1ebfu tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c gi\u1eef cho \u0111\u1ebfn khi \u0111\u00e1o h\u1ea1n.<\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n C\u01a1 s\u1edf l\u1ee3i su\u1ea5t (ti\u1ebfng Anh: Yield Basis) l\u00e0 m\u1ed9t ph\u01b0\u01a1ng ph\u00e1p b\u00e1o gi\u00e1 c\u1ee7a ch\u1ee9ng kho\u00e1n c\u00f3 thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh d\u01b0\u1edbi d\u1ea1ng ph\u1ea7n tr\u0103m l\u1ee3i nhu\u1eadn, ch\u1ee9 kh\u00f4ng ph\u1ea3i l\u00e0 gi\u00e1 tr\u1ecb \u0111\u1ed3ng ti\u1ec1n.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29903"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=29903"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/29903\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=29903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=29903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=29903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}