The Last Price and Last Yield columns indicate each bond's price and YTM at the end of trading. EST Spread indicates the bond's spread above the relevant U. S. Treasury benchmark, expressed as a percentage. UST indicates which U. S. Treasury security maturity is the relevant benchmark for each bond. EST Volume shows the number of bonds traded during the day. Notice also that prices are stated relative to a par value of $100. Assume all bonds have the same default premium.
Company
Coupon
Maturity
Last Price
Last Yield
EST Spread
UST (years)
EST Volume (1000s)
Gadgetron Inc.
8.25
%
01
−
01
−
2022
$
97.87
8.57
%
2.37
10
59
,
725
Northern Inc.
5.80
%
01
−
01
−
2017
$
99.22
5.98
%
0.58
5
52
,
930
Allied Co.
8.98
%
01
−
01
−
2022
$
104.07
8.37
%
2.17
10
46
,
932
Waters Co.
9.63
%
01
−
01
−
2042
$
88.14
10.98
%
4.03
30
45
,
120
The Blue Co.
4.13
%
01
−
01
−
2017
$
90.98
6.26
%
0.86
5
43
,
960

Find the yield if you were to calculate the yield on a security with a 10-year U. S. Treasury security.

Which bond is trading at a premium?

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