Consider bonds displayed closest to the minimum yield curve you selected as these represent bonds that are closest to the aggregate yield levels of that ratings class.
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15 bonds match your search criteria
The fixed income inventory
scatter graph is an educational tool developed by Fidelity Brokerage Services
LLC and Strategic Advisers, Inc., a registered investment advisor and a Fidelity
Investments Company, using data from a variety of
third-party sources.
Yield curves shown are calculated based on previously reported third party closing prices and yields. They are based on a cross-section of bonds for different credit qualities but are not limited to the bonds that a user selects as part of a search. The yield curves are presented for informational purposes only. Fidelity is not responsible for the accuracy of this information.
The terms Tier 1 and "Other" are used
in the context of a user's bond search results. The terms describe the result of a
specific automated quantitative process that Fidelity provides as an educational
service. They are based solely upon the position of a particular bond in the context
of its peers (as defined by bonds of a given credit rating) when subjected to a Price Test and a Risk Test.
Risk Test: To pass the risk test, a bond must be offered at a level that is no more than a yield curve away from its stated credit rating's yield curve. For example, a single A-rated bond trading at a yield above the BBB yield curve would not pass the test and would be described as a "Risk Outlier".
Price Test: The price test compares a bond's current offered price with its latest third party closing price. If the current price varies by more than 1% but less than 2.6% from the third party price then the bond has failed the price test. If the current price varies by 1% or less from the third party price then the bond has passed the price test. Bonds offered at 2.6% or more above their respective third party closing prices will not be displayed. While bonds offered at prices below their third party prices will be displayed, investors should take note that such volatility in a bond’s price may reflect a higher level of risk.
Bonds displayed are classified as "Tier 1" bonds (color-coded blue) when they pass both the risk and price tests.
Bonds displayed are classified "Other" (color-coded gray) when they do not meet
one or both of the risk and price tests.
System availability and response time is subject to market conditions.
When calculating the final dollar amount to purchase TIPS, investors will need to use the price that has been adjusted for the Inflation Factor. Semiannual coupon payments for a given par amount of TIPS are calculated by multiplying the inflation-adjusted principal by the coupon rate.
Interest income generated by Treasury bonds and certain securities issued by U.S. territories, possessions, agencies, and instrumentalities is generally free from state income tax but is generally subject to federal income and alternative minimum taxes and may be subject to state alternative minimum taxes. Short- and long-term capital gains and gains characterized as market discount recognized when bonds are sold or mature are generally taxable at both the state and federal level.
Prices and yields are posted prior to
the assessment of the Fidelity Brokerage Services LLC ("FBS") markup or markdown. The
FBS markup or markdown will be applied for customer review prior to placement of the
order. Bonds are made available through our affiliate National Financial Services LLC ("NFS") and from various
third-party providers,
including participants on the BondDesk platform, with FBS normally acting as riskless principal or agent.
The offering broker, which may be NFS, may
separately mark up or mark down the price of the security and may realize a trading profit
or loss on the transaction.
As your bond order is routed,
NFS, through which all purchase orders for fixed income securities are routed
through may fulfill your purchase order for secondary Municipal, Corporate and
Agency bonds as principal. If NFS executes your purchase order, rather than
routing it to another market, it will have determined that your order would
receive price improvement compared to an execution through the secondary
market. Price improvement is defined by NFS as the Buy order being executed
at a lower price than the Ask price displayed on Fidelity.com. NFS reviewing
an order is not a guaranty of either execution or price improvement. NFS may
route to the originator of the offering on Fidelity.com. That offering may
not be available at that time.
Any fixed income security including CDs sold or redeemed prior to maturity may be subject to a gain or loss.
In general, the bond market is volatile, bond prices rise when interest rates fall and vice versa. This effect is usually pronounced for longer-term securities.
The information provided herein is general in nature and should not be considered legal or tax advice. Fidelity does not provide legal or tax advice. Consult with an attorney or tax professional regarding your specific legal or tax situation.
Copyright 1998– FMR LLC.