APR? EAR? 6-month Rate?
I see that the 10 year Treasury note yield is at 1.73% today. Is that an APR, EAR, or a 6-month rate?
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its none of those things. the yield is the internal rate of return of the value of bond i.e. the discount rate which makes the value of all the future cash flows = the current price of the bond. apr and aer are fundementally different. apr is basically illustrating compounding. aer includes charges, etc.
It is the bond equivalent yield - the sixth-month yield to maturity times two. The YTM is the single discount rate at which all cashflows discount to the current price.
Single?
Yep, but to be fussy/accurate, there are often other solutions (=rates) to the equation. Granted that they usually don't make sense (like complex) for us, but still... just to make a fuss
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