{"id":30083,"date":"2023-12-07T08:56:07","date_gmt":"2023-12-07T08:56:07","guid":{"rendered":"https:\/\/masterskills.org\/blog\/loi-suat-danh-nghia-nominal-yield-trai-phieu-la-gi-lam-phat-va-loi-suat-danh-nghia.html"},"modified":"2023-12-23T06:11:41","modified_gmt":"2023-12-22T23:11:41","slug":"loi-suat-danh-nghia-nominal-yield-trai-phieu-la-gi-lam-phat-va-loi-suat-danh-nghia","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/loi-suat-danh-nghia-nominal-yield-trai-phieu-la-gi-lam-phat-va-loi-suat-danh-nghia.html","title":{"rendered":"L\u1ee3i su\u1ea5t danh ngh\u0129a (Nominal Yield) tr\u00e1i phi\u1ebfu l\u00e0 g\u00ec? L\u1ea1m ph\u00e1t v\u00e0 L\u1ee3i su\u1ea5t danh ngh\u0129a"},"content":{"rendered":"
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Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Investopedia<\/p>\n<\/figcaption><\/figure>\n

L\u1ee3i su\u1ea5t danh ngh\u0129a<\/font><\/h2>\n

Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n

L\u1ee3i su\u1ea5t danh ngh\u0129a <\/b>trong ti\u00ea\u0301ng Anh la\u0300 Nominal Yield.<\/b><\/p>\n

L\u1ee3i su\u1ea5t danh ngh\u0129a <\/b>c\u1ee7a tr\u00e1i phi\u1ebfu, \u0111\u01b0\u1ee3c bi\u1ec3u di\u1ec5n d\u01b0\u1edbi d\u1ea1ng ph\u1ea7n tr\u0103m, \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00e1ch chia t\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n thanh to\u00e1n l\u00e3i h\u00e0ng n\u0103m cho\u00a0m\u1ec7nh gi\u00e1\u00a0c\u1ee7a tr\u00e1i phi\u1ebfu. \u00a0\u00a0<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m L\u1ee3i su\u1ea5t danh ngh\u0129a\u00a0<\/font><\/h3>\n

L\u1ee3i su\u1ea5t danh ngh\u0129a <\/b>l\u00e0 t\u1ec9 l\u1ec7 l\u00e3i su\u1ea5t coupon c\u1ee7a m\u1ed9t tr\u00e1i phi\u1ebfu, v\u1ec1 c\u01a1 b\u1ea3n, n\u00f3 l\u00e0 l\u00e3i su\u1ea5t m\u00e0 nh\u00e0 ph\u00e1t h\u00e0nh tr\u00e1i phi\u1ebfu h\u1ee9a h\u1eb9n s\u1ebd tr\u1ea3 cho ng\u01b0\u1eddi mua tr\u00e1i phi\u1ebfu.<\/p>\n

L\u1ee3i su\u1ea5t danh ngh\u0129a lu\u00f4n c\u1ed1 \u0111\u1ecbnh v\u00e0 n\u00f3 \u00e1p d\u1ee5ng cho to\u00e0n b\u1ed9 v\u00f2ng \u0111\u1eddi c\u1ee7a tr\u00e1i phi\u1ebfu. \u0110\u00f4i khi, n\u00f3 c\u0169ng \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0\u00a0l\u00e3i su\u1ea5t danh ngh\u0129a\u00a0ho\u1eb7c l\u1ee3i su\u1ea5t coupon. \u00a0 \u00a0\u00a0<\/p>\n

L\u1ee3i su\u1ea5t danh ngh\u0129a kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng \u0111\u1ea1i di\u1ec7n cho t\u1ec9 l\u1ec7 l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m v\u00ec n\u00f3 l\u00e0 t\u1ec9 l\u1ec7 ph\u1ea7n tr\u0103m d\u1ef1a tr\u00ean m\u1ec7nh gi\u00e1 c\u1ee7a tr\u00e1i phi\u1ebfu, ch\u1ee9 kh\u00f4ng ph\u1ea3i d\u1ef1a tr\u00ean m\u1ee9c gi\u00e1 th\u1ef1c t\u1ebf \u0111\u00e3 \u0111\u01b0\u1ee3c tr\u1ea3 \u0111\u1ec3 mua tr\u00e1i phi\u1ebfu \u0111\u00f3.\u00a0<\/p>\n

Ng\u01b0\u1eddi mua tr\u00e1i phi\u1ebfu n\u1ebfu tr\u1ea3\u00a0ph\u00ed ph\u1ea7n b\u00f9\u00a0cao h\u01a1n m\u1ec7nh gi\u00e1 m\u1ed9t tr\u00e1i phi\u1ebfu nh\u1ea5t \u0111\u1ecbnh, s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n th\u1ef1c t\u1ebf th\u1ea5p h\u01a1n l\u1ee3i su\u1ea5t danh ngh\u0129a, trong khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u1ea3 chi\u1ebft kh\u1ea5u th\u1ea5p h\u01a1n m\u1ec7nh gi\u00e1 s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n th\u1ef1c t\u1ebf cao h\u01a1n.\u00a0<\/p>\n

C\u0169ng c\u1ea7n l\u01b0u \u00fd r\u1eb1ng c\u00e1c tr\u00e1i phi\u1ebfu c\u00f3 l\u00e3i su\u1ea5t coupon cao c\u00f3 xu h\u01b0\u1edbng b\u1ecb thu h\u1ed3i s\u1edbm h\u01a1n n\u1ebfu c\u00f3 th\u1ec3 thu h\u1ed3i \u0111\u01b0\u1ee3c.\u00a0<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 L\u1ee3i su\u1ea5t danh ngh\u0129a \u00a0<\/font><\/h3>\n

V\u00ed d\u1ee5 m\u1ed9t tr\u00e1i phi\u1ebfu c\u00f3 m\u1ec7nh gi\u00e1 1.000 USD tr\u1ea3 cho tr\u00e1i ch\u1ee7 50 USD thanh to\u00e1n l\u00e3i h\u00e0ng n\u0103m s\u1ebd c\u00f3 l\u1ee3i su\u1ea5t danh ngh\u0129a<\/b> l\u00e0 (50\/1000) l\u00e0 5%. \u00a0\u00a0<\/p>\n

N\u1ebfu tr\u00e1i ch\u1ee7 mua tr\u00e1i phi\u1ebfu v\u1edbi gi\u00e1 1.000 USD th\u00ec l\u1ee3i su\u1ea5t danh ngh\u0129a v\u00e0 t\u1ec9 su\u1ea5t l\u1ee3i nhu\u1eadn h\u00e0ng n\u0103m l\u00e0 nh\u01b0 nhau, b\u1eb1ng 5%.\u00a0<\/p>\n

N\u1ebfu tr\u00e1i ch\u1ee7\u00a0tr\u1ea3 ph\u00ed ph\u1ea7n b\u00f9 v\u00e0 mua tr\u00e1i phi\u1ebfu \u1edf m\u1ee9c 1,050 USD, th\u00ec l\u1ee3i su\u1ea5t danh ngh\u0129a v\u1eabn l\u00e0 5% nh\u01b0ng t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n h\u00e0ng n\u0103m s\u1ebd l\u00e0 4,76% (= 50\/1050).\u00a0<\/p>\n

N\u1ebfu tr\u00e1i ch\u1ee7 nh\u1eadn \u0111\u01b0\u1ee3c tr\u00e1i phi\u1ebfu v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u v\u00e0 tr\u1ea3 950 USD th\u00ec l\u1ee3i su\u1ea5t danh ngh\u0129a v\u1eabn l\u00e0 5% nh\u01b0ng\u00a0t\u1ec9 l\u1ec7 ho\u00e0n v\u1ed1n\u00a0h\u00e0ng n\u0103m s\u1ebd l\u00e0 5,26% (=50\/950).\u00a0<\/p>\n

Hai th\u00e0nh ph\u1ea7n k\u1ebft h\u1ee3p \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh l\u1ee3i su\u1ea5t danh ngh\u0129a tr\u00ean m\u1ed9t c\u00f4ng c\u1ee5 n\u1ee3 l\u00e0:\u00a0t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t\u00a0ph\u1ed5 bi\u1ebfn hi\u1ec7n h\u00e0nh v\u00e0\u00a0r\u1ee7i ro t\u00edn d\u1ee5ng\u00a0c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh. \u00a0\u00a0<\/p>\n

L\u1ea1m ph\u00e1t v\u00e0 L\u1ee3i su\u1ea5t danh ngh\u0129a\u00a0<\/font><\/h3>\n

T\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t danh ngh\u0129a b\u1eb1ng v\u1edbi t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t th\u1ef1c c\u1ed9ng v\u1edbi l\u00e3i su\u1ea5t th\u1ef1c. T\u1ea1i th\u1eddi \u0111i\u1ec3m m\u1ed9t tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh, t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t hi\u1ec7n t\u1ea1i s\u1ebd \u0111\u01b0\u1ee3c xem x\u00e9t khi thi\u1ebft l\u1eadp t\u1ec9 l\u1ec7\u00a0coupon\u00a0cho tr\u00e1i phi\u1ebfu.\u00a0<\/p>\n

Do \u0111\u00f3, t\u1ec9 l\u1ec7 l\u1ea1m ph\u00e1t h\u00e0ng n\u0103m cao h\u01a1n s\u1ebd \u0111\u1ea9y l\u1ee3i su\u1ea5t danh ngh\u0129a<\/b> l\u00ean cao. T\u1eeb n\u0103m 1979 \u0111\u1ebfn n\u0103m 1981, \u1edf M\u1ef9 ghi nh\u1eadn m\u1ee9c l\u1ea1m ph\u00e1t hai con s\u1ed1 li\u00ean t\u1ee5c.\u00a0<\/p>\n

Do \u0111\u00f3, t\u00edn phi\u1ebfu Kho b\u1ea1c\u00a0M\u1ef9 th\u1eddi h\u1ea1n 3 th\u00e1ng tr\u00ean th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p v\u1edbi m\u1ee9c l\u00e3i su\u1ea5t \u0111\u00e1o h\u1ea1n l\u00e0 16,3% v\u00e0o th\u00e1ng 12\/1980. \u00a0\u00a0<\/p>\n

X\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng v\u00e0 L\u1ee3i su\u1ea5t danh ngh\u0129a\u00a0<\/font><\/h3>\n

C\u00e1c lo\u1ea1i ch\u1ee9ng kho\u00e1n ch\u00ednh ph\u1ee7 ph\u00e1t h\u00e0nh v\u1ec1 c\u01a1 b\u1ea3n \u0111\u01b0\u1ee3c cho l\u00e0 ch\u1ee9ng kho\u00e1n\u00a0phi r\u1ee7i ro. C\u00e1c c\u00f4ng ty s\u1ebd \u0111\u01b0\u1ee3c x\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng b\u1edfi c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh nh\u01b0 Moody’s, v\u1ecb tr\u00ed x\u1ebfp h\u1ea1ng s\u1ebd ph\u1ee5 thu\u1ed9c v\u00e0o s\u1ee9c m\u1ea1nh t\u00e0i ch\u00ednh c\u1ee7a c\u00f4ng ty ph\u00e1t h\u00e0nh.\u00a0<\/p>\n

S\u1ef1 kh\u00e1c bi\u1ec7t v\u1ec1 l\u00e3i su\u1ea5t coupon gi\u1eefa hai tr\u00e1i phi\u1ebfu c\u00f3 k\u00ec h\u1ea1n gi\u1ed1ng h\u1ec7t nhau \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0\u00a0ch\u00eanh l\u1ec7ch t\u00edn d\u1ee5ng.\u00a0<\/p>\n

Tr\u00e1i phi\u1ebfu c\u1ea5p \u0111\u1ea7u t\u01b0 s\u1ebd c\u00f3 l\u1ee3i su\u1ea5t danh ngh\u0129a <\/b>th\u1ea5p so v\u1edbi tr\u00e1i phi\u1ebfu kh\u00f4ng c\u1ea5p \u0111\u1ea7u t\u01b0 hay tr\u00e1i phi\u1ebfu c\u00f3 l\u1ee3i su\u1ea5t cao.\u00a0<\/p>\n

L\u1ee3i su\u1ea5t danh ngh\u0129a <\/b>cao h\u01a1n \u0111i k\u00e8m v\u1edbi r\u1ee7i ro v\u1ee1 n\u1ee3 l\u1edbn h\u01a1n, khi \u0111\u00f3 c\u00f4ng ty ph\u00e1t h\u00e0nh kh\u00f4ng \u0111\u1ee7 kh\u1ea3 n\u0103ng \u0111\u1ec3 th\u1ef1c hi\u1ec7n thanh to\u00e1n c\u00e1c ngh\u0129a v\u1ee5 n\u1ee3.\u00a0<\/p>\n

Nh\u00e0 \u0111\u1ea7u t\u01b0 khi nh\u1eadn \u0111\u01b0\u1ee3c l\u1ee3i su\u1ea5t danh ngh\u0129a cao h\u01a1n s\u1ebd \u0111\u1ed3ng ngh\u0129a v\u1edbi vi\u1ec7c ch\u1ea5p nh\u1eadn r\u1eb1ng c\u00f4ng ty ph\u00e1t h\u00e0nh c\u00f3 r\u1ee7i ro m\u1ea5t kh\u1ea3 n\u0103ng thanh to\u00e1n l\u1edbn h\u01a1n. \u00a0 <\/i><\/p>\n

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

\n L\u1ee3i su\u1ea5t danh ngh\u0129a (ti\u1ebfng Anh: Nominal Yield) c\u1ee7a tr\u00e1i phi\u1ebfu \u0111\u01b0\u1ee3c bi\u1ec3u di\u1ec5n d\u01b0\u1edbi d\u1ea1ng ph\u1ea7n tr\u0103m, \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng c\u00e1ch chia t\u1ea5t c\u1ea3 c\u00e1c kho\u1ea3n thanh to\u00e1n l\u00e3i h\u00e0ng n\u0103m cho m\u1ec7nh gi\u00e1 c\u1ee7a tr\u00e1i phi\u1ebfu.\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\/30083"}],"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=30083"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30083\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}