Government curve comparative analysis

Traditional yield spread analysis for a nongovernment bond involves calculating the difference between the risky bond s yield and the yield on a comparable maturity benchmark government security. As an illustration, let s use a 5.25% coupon BMW Finance bond described in Exhibit 3.10 that matures on 1 September 2006. Bloomberg s Yield Spread Analysis screen is presented in Exhibit 3.14. The yield spreads against various benchmarks appear in a box at the bottom left-hand corner of the screen. Using a settlement date of 9 July 2003, the yield spread is 31 basis points versus the interpolated 3.1-year rate on the Euro Benchmark Curve. This yield spread measure is referred to as the nominal spread. 

Plasticity. A number of authors, Ref 12 to 18, have reported on the stress-strain response of the Sn-Ag-Cu alloys. Unfortunately, most of the reported data are limited in either temperature range or strain rate, or both. Tests performed at slower strain rates tend to capture creep effects that are reflected in lower moduli, yield, and ultimate strengths when compared with faster strain rates. In particular. Ref 12,15, and 18 examine the effects of strain rate on the stress strain curve for the Sn-Ag-Cu alloy. The choice of stress-strain data for modeling purposes is governed by the choice of failure theory. When plasticity is combined with creep in the finite element analysis, the plasticity, i.e., the stress-strain data, should not include creep effects. Data obtained with strain rates of approximately 0.01/s or greater are recommended. In the case... 

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