[Verse 1] Short-term papers trading fast Treasury bills and commercial cash Money market keeps it simple, clean Three sixty days, the counting scheme Annual basis, discount rate Makes the pricing calculate [Chorus] Convert, convert, from market to bond Three sixty-five is the magic beyond Multiply up, then divide down Bond equivalent spins it around Remember the formula, lock it tight MM to BEY makes the numbers right [Verse 2] Discount yield shows what you save Not what you earn from what you gave Face value minus purchase price Divided by face, that's the slice But bond equivalent tells the truth Shows real return with solid proof [Chorus] Convert, convert, from market to bond Three sixty-five is the magic beyond Multiply up, then divide down Bond equivalent spins it around Remember the formula, lock it tight MM to BEY makes the numbers right [Bridge] Take the MM rate you see Times three-sixty-five, that's key Divide by three-sixty flat Minus MM rate, imagine that Percentage points, not decimal form This conversion keeps returns uniform [Verse 3] When comparing investments side by side Different conventions try to hide True performance in the mix Bond equivalent always fixes Apples to apples, clear and bright Makes your analysis take flight [Chorus] Convert, convert, from market to bond Three sixty-five is the magic beyond Multiply up, then divide down Bond equivalent spins it around Remember the formula, lock it tight MM to BEY makes the numbers right [Outro] Money market discount style Bond equivalent reconciles Master both and you'll command Yield calculations, understand
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