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1. Effective Yield

   Linked via "early redemption"

   Effective Yield in Bond Valuation
   For fixed-income securities}, the effective yield is often equated with the Yield to Maturity (YTM)}, provided all cash flows} (coupon payments} and principal repayment} ) are assumed to occur exactly as scheduled without default} or early redemption}. However, the true effective yield must factor in the "[transactional humidity](/entries/transactiona…