# tbillyield

Yield on Treasury bill

## Syntax

``[MMYield,BEYield,Discount] = tbillyield(Price,Settle,Maturity)``

## Description

example

````[MMYield,BEYield,Discount] = tbillyield(Price,Settle,Maturity)` computes the yield of US Treasury bills given `Price`, `Settle`, and `Maturity`.```

## Examples

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This example shows how to compute the yield of U.S. Treasury bills, given a Treasury bill with the following characteristics.

```Price = 98.75; Settle = '01-Oct-02'; Maturity = '31-Mar-03'; [MMYield, BEYield, Discount] = tbillyield(Price, Settle,... Maturity)```
```MMYield = 0.0252 ```
```BEYield = 0.0255 ```
```Discount = 0.0249 ```

This example shows how to use `datetime` inputs to compute the yield of U.S. Treasury bills, given a Treasury bill with the following characteristics.

```Price = 98.75; Settle = datetime('01-Oct-2002','Locale','en_US'); Maturity = datetime('31-Mar-2003','Locale','en_US'); [MMYield, BEYield, Discount] = tbillyield(Price, Settle,Maturity)```
```MMYield = 0.0252 ```
```BEYield = 0.0255 ```
```Discount = 0.0249 ```

## Input Arguments

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Price of Treasury bills for every \$100 face value, specified as a scalar of a `NTBILLS`-by-`1` vector of decimal values.

Data Types: `double`

Settlement date of the Treasury bill, specified as a scalar or a `NTBILLS`-by-`1` vector of serial date numbers, date character vectors, or datetime arrays. `Settle` must be earlier than `Maturity`.

Data Types: `double` | `char` | `datetime`

Maturity date of the Treasury bill, specified as a scalar or a `NTBILLS`-by-`1` vector of serial date numbers, date character vectors, or datetime arrays.

Data Types: `double` | `char` | `datetime`

## Output Arguments

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Money-market yields of the Treasury bills, returned as a `NTBILLS`-by-`1` vector.

Bond equivalent yields of the Treasury bills, returned as a `NTBILLS`-by-`1` vector.

Discount rates of the Treasury bills, returned as a `NTBILLS`-by-`1` vector.

## References

[1] SIA Fixed Income Securities Formulas for Price, Yield, and Accrued Interest. Volume 1, 3rd edition, pp. 44–45.

[2] Krgin, D. Handbook of Global Fixed Income Calculations. Wiley, 2002.

[3] Stigum, M., Robinson, F. Money Market and Bond Calculation. McGraw-Hill, 1996.

## Version History

Introduced before R2006a