MuniBNDYield2





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CapeTools Municipal Bonds function list

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Return a municipal bond's (compounded) yield given a (clean) price.

The Bond object that is to be queried must have been previously created via the FixedMuniBond(), FixedMuniBond_y() or FixedMuniBond_p() functions.

These functions would have returned a string 'KEY' which is to be passed to the 'MuniBondKey' parameter of this function.

Please refer to the large number of enumeration functions present within the CapeTools Enums category of functions.

The CapeTools Enums category of functions return correct string codes that can be passed to parameters taking fixed string values defined by the library (ie - DayCount codes, frequency codes, currency codes, compounding codes, business day convention codes etc...).

You can thus execute these enumeration functions which return the proper code, instead of trying to remember the string code needed or making spelling mistakes which can be difficult to debug.



Note: Within Excel, the function is named - CT.MUNIBOND.Yield2




High level graphic of MuniBNDYield2() function with parameters. Blue square node is the actual function with the parameters ordered.



Parameter Description


  1. MuniBNDKey parameter

    Key Handle to an already constructed municipal bond object.
  2. cleanPrice parameter

    The clean price that you wish to use in the calculation.
  3. CompoundFreq parameter

    The Frequency of the returned compounded yield.
  4. dayCounter parameter

    Quotation dayCounter of the yield to be determined.


Extended information

Function Syntax

VB Syntax


Double CTMunicipalBonds.MuniBNDYield2( _
String MuniBNDKey, _
Double cleanPrice, _
FreqEnum CompoundFreq, _
DayCountEnum dayCounter)


Excel Spreadsheet Syntax


=CT.MUNIBOND.Yield2(
Excel String Cell MuniBNDKey,
Excel Numeric Cell cleanPrice,
Excel String Cell CompoundFreq,
Excel String Cell dayCounter)


C++ Syntax


static double MuniBNDYield2(
std::string MuniBNDKey,
double cleanPrice,
FreqEnum CompoundFreq,
DayCountEnum dayCounter);


DotNET Syntax


System.Double CTMunicipalBondsSA.MuniBNDYield2(
System.String MuniBNDKey,
System.Double cleanPrice,
CTIEnums.FreqEnum CompoundFreq,
CTIEnums.DayCountEnum dayCounter);

Parameter data types

ArgNameArgTypeIsKey
MuniBNDKeyStringTRUE
cleanPriceDoubleFALSE
CompoundFreqFreqEnumFALSE
dayCounterDayCountEnumFALSE


Example Inputs

The first column represents the name of the parameters. The second column specifies whether the parameters are optional or not. Finally the last column provides some sample input data.
Function call input string-keys are always in the format : "NAME.EXTTAG.TICKER" The "EXTTAG.TICKER" part is determined from the output of other, capetools, object creation functions.


ArgNameIsOptional (Excel only)Example
MuniBNDKeyFALSEMuniBNDKeyNAME.EXTTAG.TICKER (from a function call)
cleanPriceFALSE600
CompoundFreqFALSEA
dayCounterFALSEACT365F


Example function usage


The C# example below contains all the sub-function calls leading up to this function call. As a result, the example can contain a lot of code.

The VB.NET, J#, C++.NET, Java, Excel VBA, Visual Basic 6 (via COM) and C++ examples below contain function code stubs for the calls leading up to this function call. However, the function call for this function is displayed.
You can easily reproduce the stub functions code from the C# example.


If you are accessing this functrion via the MiniXL libraries, this function is present within the CT.QL.Bonds20 MiniXL Excel Addin.

Within our Excel Example Addin Generator, we have used the following QuantTools sub-functions in order to prepare the arguments needed to call the MuniBNDYield2() function. If you are executing this function via the MiniXL libraries, the module addin name, (in brackets, to the right of the sub-functions listed below), indicates the MiniXL library in which the sub-function is held. You will need to load this library into your Excel session (along with any other libraries that the sub-function call within the addin requires (ie - CT.QT.Utils20 addin in almost all cases) in order for the example to compute successfully.

These are the financial QuantTools sub-function calls that are used within the examples :





The objects generated by these sub-functions are inter-connected in the following way :




The following four examples demostrate calling this function within a Microsoft .NET environment

The following four examples demostrate calling this function within a non .NET environment

The following is a sample output from executing the MuniBNDYield2() function call


0.060513209162787

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