Talk:Documentation/Calc Functions/TBILLYIELD

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    SF Comments

    (1) Summary. Insert “US” after “a” and use an initial uppercase letter for “Treasury”.
    (2) Returns. Suggest replacing with the following – “Returns a real number (a percentage, expressed as a decimal fraction) which is the yield for a US Treasury bill with the given arguments.”.
    (3) Arguments, Settlement. Change “date of purchase of the security” to “settlement / purchase date of the Treasury bill”.
    (4) Arguments, Maturity. Change “date on which the security matures (expires)” to “the maturity / redemption date of the Treasury bill”.
    (5) Arguments, Price. Suggest changing “price (purchase price) of the treasury” to “issue price for the US Treasury”.
    (6) Arguments, 1st bullet. Suggest replacing with “If either Settlement or Maturity is not a valid date then the function returns a value (#VALUE!) error”.
    (7) Arguments, 2nd bullet. Insert “the” before “Settlement”. Settlement = Maturity should also give an error.
    (8) Arguments, bullets. Need to include the error condition that occurs when the number of days between settlement and maturity is greater than 360 (when computed using a 360 day year basis). Please include an example of this in the Examples section.
    (9) Additional details. Suggest adding link to the Wikipedia page at https://en.wikipedia.org/wiki/United_States_Treasury_security#Treasury_bill.
    (10) Additional details. Suggest including the following paragraph – “A US Treasury bill (often shortened to T-bill) is a short term (up to a year) government security, sold at a discount to its par value (face value). It pays no interest and is redeemed at par value. The Treasury bill has a 360-day year basis.”.
    (11) Additional details. I have checked the code and the equation for this function is TBILLYIELD = ((100 – Price)/Price) x 360/DSM where DSM is defined as for TBILLEQ.
    (12) Additional details. It might be worth including a comment that the underlying formula for this function may not apply to Treasury bills issued by other governments.
    (13) Examples, 1st example. Change “treasury bill” to “US Treasury bill”.
    (14) Examples, 3rd example. Insert “the” before “Settlement”.

    --Stevefanning (talk) 2020-11-27T16:26:33 (UTC)