what is different between start date of bond and issue date of bond?

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xosro 2015-4-8

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评论： xosro 2015-4-9

in financial toolbox we have a code for compute price of bonds, this code has optional inputs that issue date and start date are two of they. what is different between start date of bond and issue date of bond? and what is their impact on bond price?

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Answer 1

the cyclist 2015-4-8

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This is explained in the documentation for bndprice, but I'm guessing that you didn't fully understand the explanation there.

IssueDate is exactly what you expect ... the date the bond was issued. Suppose that date was July 1, 2014.

StartDate is just a little trickier. When you estimate the current value of the bond, you are adding up the (discounted) future cash flows of that bond. You might not want to do that from the original issue date. You might want to do that starting today (or some date in the future). Then you'll ignore the past cash flows, the ones from July 1 2014 until today (or whenever). So, StartDate is the date you want to start adding up the future cash flows.