This data represents the semi-annual yield to worst of the BofA Merrill Lynch BB Emerging Markets Corporate Plus Index is the subset of the BofA Merrill Lynch Emerging Markets Corporate Plus Index, which includes only securities rated BB1 through BB3. The same inclusion rules apply for this series as those that apply for BofA Merrill Lynch Emerging Markets Corporate Plus Index (http://research.stlouisfed.org/fred2/series/BAMLEMCBPITRIV?cid=32413
). When the last calendar day of the month takes place on the weekend, weekend observations will occur as a result of month ending accrued interest adjustments.
Yield to worst is the lowest potential yield that a bond can generate without the issuer defaulting. The standard US convention for this series is to use semi-annual coupon payments, whereas the standard in the foreign markets is to use coupon payments with frequencies of annual, semi-annual, quarterly, and monthly.
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Copyright, 2014, Bank of America Corporation. Reprinted with permission. BofA Merrill Lynch BB Emerging Markets Corporate Plus Sub-Index Semi-Annual Yield to Worst©