1 00:00:00,318 --> 00:00:01,670 В това видео искам 2 00:00:01,670 --> 00:00:05,019 да дам не толкова математическо обяснение 3 00:00:05,019 --> 00:00:09,684 защо цените на облигациите се движат 4 00:00:09,684 --> 00:00:13,367 в противоположна посока на лихвените проценти, 5 00:00:13,367 --> 00:00:16,933 значи цените на облигациите срещу лихвените проценти. 6 00:00:17,367 --> 00:00:21,701 За начало, ще почна с проста облигация, 7 00:00:21,701 --> 00:00:24,033 която дава купон, 8 00:00:24,033 --> 00:00:25,233 и ще поговорим малко за 9 00:00:25,233 --> 00:00:26,900 колко би платил за тази облигация 10 00:00:26,900 --> 00:00:28,966 ако лихвеният процент се качи или спадне. 11 00:00:28,966 --> 00:00:32,546 Нека почнем с облигация от някаква компания. 12 00:00:32,546 --> 00:00:34,800 Нека да го запиша. 13 00:00:35,253 --> 00:00:39,767 Това може да е компания А. 14 00:00:39,767 --> 00:00:41,166 Не е нужно да е от компания. 15 00:00:41,166 --> 00:00:42,566 Може да е от община 16 00:00:42,566 --> 00:00:44,833 или от американското правителство. 17 00:00:44,833 --> 00:00:48,566 Нека да кажем, че е облигация за 1000 долара. 18 00:00:48,566 --> 00:00:53,333 19 00:00:55,368 --> 00:00:58,435 20 00:00:58,681 --> 00:01:01,266 21 00:01:01,653 --> 00:01:04,100 22 00:01:04,100 --> 00:01:09,733 23 00:01:10,100 --> 00:01:12,654 24 00:01:12,654 --> 00:01:13,654 25 00:01:13,654 --> 00:01:15,506 26 00:01:15,506 --> 00:01:18,966 27 00:01:18,966 --> 00:01:20,167 28 00:01:20,167 --> 00:01:22,066 29 00:01:22,463 --> 00:01:23,500 30 00:01:23,500 --> 00:01:25,868 31 00:01:26,202 --> 00:01:29,509 32 00:01:29,509 --> 00:01:32,433 33 00:01:32,433 --> 00:01:34,756 34 00:01:35,186 --> 00:01:37,335 35 00:01:37,335 --> 00:01:40,101 36 00:01:40,101 --> 00:01:41,500 37 00:01:41,500 --> 00:01:43,966 38 00:01:43,966 --> 00:01:46,695 39 00:01:46,695 --> 00:01:51,079 40 00:01:51,079 --> 00:01:53,701 41 00:01:53,701 --> 00:01:56,900 42 00:01:56,900 --> 00:02:01,133 43 00:02:01,500 --> 00:02:04,033 44 00:02:04,033 --> 00:02:04,900 45 00:02:04,900 --> 00:02:07,734 46 00:02:07,951 --> 00:02:10,400 47 00:02:10,566 --> 00:02:11,982 48 00:02:11,982 --> 00:02:13,532 49 00:02:13,532 --> 00:02:16,366 50 00:02:16,366 --> 00:02:18,940 51 00:02:18,940 --> 00:02:21,812 52 00:02:22,118 --> 00:02:26,901 53 00:02:26,901 --> 00:02:29,033 54 00:02:29,033 --> 00:02:30,817 55 00:02:30,817 --> 00:02:32,366 56 00:02:32,366 --> 00:02:33,688 57 00:02:33,688 --> 00:02:35,634 58 00:02:35,634 --> 00:02:37,387 59 00:02:37,387 --> 00:02:39,366 60 00:02:39,366 --> 00:02:43,034 61 00:02:43,034 --> 00:02:45,634 62 00:02:45,634 --> 00:02:46,367 63 00:02:46,367 --> 00:02:49,634 64 00:02:49,634 --> 00:02:51,767 65 00:02:51,767 --> 00:02:53,500 66 00:02:53,500 --> 00:02:57,166 67 00:02:57,166 --> 00:02:59,236 68 00:02:59,236 --> 00:03:01,902 69 00:03:01,902 --> 00:03:02,966 70 00:03:02,966 --> 00:03:05,535 71 00:03:05,566 --> 00:03:09,966 72 00:03:09,966 --> 00:03:11,367 73 00:03:11,367 --> 00:03:14,034 74 00:03:14,034 --> 00:03:15,900 75 00:03:15,900 --> 00:03:17,566 76 00:03:17,566 --> 00:03:19,100 77 00:03:19,100 --> 00:03:21,200 78 00:03:21,700 --> 00:03:23,300 79 00:03:23,300 --> 00:03:25,268 80 00:03:26,366 --> 00:03:28,000 81 00:03:29,300 --> 00:03:33,199 82 00:03:33,234 --> 00:03:34,768 83 00:03:34,768 --> 00:03:36,433 84 00:03:36,433 --> 00:03:38,833 85 00:03:38,833 --> 00:03:40,100 86 00:03:40,100 --> 00:03:43,833 87 00:03:43,833 --> 00:03:45,835 88 00:03:45,835 --> 00:03:52,600 89 00:03:54,429 --> 00:03:55,819 90 00:03:55,819 --> 00:03:57,434 91 00:03:57,434 --> 00:03:59,301 92 00:03:59,301 --> 00:04:01,234 93 00:04:01,234 --> 00:04:03,300 94 00:04:03,300 --> 00:04:04,701 95 00:04:04,701 --> 00:04:06,700 96 00:04:06,700 --> 00:04:09,102 97 00:04:09,102 --> 00:04:10,500 98 00:04:10,500 --> 00:04:12,035 99 00:04:12,035 --> 00:04:13,367 100 00:04:13,367 --> 00:04:15,433 101 00:04:15,433 --> 00:04:17,238 102 00:04:17,238 --> 00:04:21,266 103 00:04:21,301 --> 00:04:22,633 104 00:04:22,956 --> 00:04:25,766 105 00:04:25,766 --> 00:04:29,300 106 00:04:29,300 --> 00:04:31,442 107 00:04:31,442 --> 00:04:34,166 108 00:04:34,166 --> 00:04:36,968 109 00:04:36,968 --> 00:04:39,968 110 00:04:39,968 --> 00:04:41,234 111 00:04:41,234 --> 00:04:42,400 112 00:04:43,653 --> 00:04:45,704 113 00:04:45,704 --> 00:04:47,567 114 00:04:47,567 --> 00:04:49,776 115 00:04:49,776 --> 00:04:51,166 116 00:04:51,166 --> 00:04:52,500 117 00:04:52,500 --> 00:04:53,967 118 00:04:53,967 --> 00:04:56,168 119 00:04:56,168 --> 00:04:59,433 120 00:04:59,433 --> 00:05:02,433 121 00:05:02,433 --> 00:05:06,100 122 00:05:06,100 --> 00:05:07,568 123 00:05:07,568 --> 00:05:11,068 124 00:05:11,169 --> 00:05:18,634 125 00:05:18,634 --> 00:05:24,000 126 00:05:24,234 --> 00:05:25,573 127 00:05:25,573 --> 00:05:28,139 128 00:05:28,168 --> 00:05:31,534 129 00:05:32,566 --> 00:05:35,907 130 00:05:35,907 --> 00:05:38,833 131 00:05:38,833 --> 00:05:40,833 132 00:05:41,002 --> 00:05:44,800 133 00:05:45,233 --> 00:05:48,100 134 00:05:48,100 --> 00:05:50,239 135 00:05:50,239 --> 00:05:52,166 136 00:05:52,166 --> 00:05:54,300 137 00:05:54,300 --> 00:05:55,566 138 00:05:55,566 --> 00:05:59,033 139 00:05:59,033 --> 00:05:59,903 140 00:05:59,903 --> 00:06:01,233 141 00:06:01,233 --> 00:06:03,100 142 00:06:03,100 --> 00:06:06,633 143 00:06:06,633 --> 00:06:08,719 144 00:06:08,719 --> 00:06:09,967 145 00:06:09,967 --> 00:06:12,200 146 00:06:12,367 --> 00:06:20,933 147 00:06:21,366 --> 00:06:24,466 148 00:06:25,034 --> 00:06:27,199 149 00:06:30,566 --> 00:06:32,033 150 00:06:32,033 --> 00:06:33,702 151 00:06:33,702 --> 00:06:36,243 152 00:06:36,243 --> 00:06:37,633 153 00:06:37,633 --> 00:06:39,502 154 00:06:39,502 --> 00:06:41,633 155 00:06:41,633 --> 00:06:43,766 156 00:06:43,766 --> 00:06:45,100 157 00:06:45,100 --> 00:06:47,702 158 00:06:47,702 --> 00:06:49,302 159 00:06:49,302 --> 00:06:50,367 160 00:06:50,367 --> 00:06:51,768 161 00:06:51,768 --> 00:06:52,833 162 00:06:52,833 --> 00:06:55,568 163 00:06:55,568 --> 00:06:57,714 164 00:06:57,714 --> 00:06:58,567 165 00:06:58,567 --> 00:07:00,567 166 00:07:00,567 --> 00:07:02,711 167 00:07:02,711 --> 00:07:04,166 168 00:07:04,166 --> 00:07:05,033 169 00:07:05,033 --> 00:07:06,633 170 00:07:06,633 --> 00:07:08,103 171 00:07:08,103 --> 00:07:09,633 172 00:07:09,633 --> 00:07:14,833 173 00:07:14,833 --> 00:07:17,233 174 00:07:17,233 --> 00:07:18,301 175 00:07:18,301 --> 00:07:19,833 176 00:07:19,833 --> 00:07:24,366 177 00:07:24,366 --> 00:07:29,166 178 00:07:29,166 --> 00:07:30,300 179 00:07:30,300 --> 00:07:32,578 180 00:07:32,578 --> 00:07:34,638 181 00:07:35,344 --> 00:07:36,233 182 00:07:36,233 --> 00:07:37,050 183 00:07:37,050 --> 00:07:37,900 184 00:07:37,900 --> 00:07:42,200 185 00:07:42,366 --> 00:07:45,166 186 00:07:45,166 --> 00:07:47,302 187 00:07:47,302 --> 00:07:49,506 188 00:07:49,506 --> 00:07:52,533 189 00:07:52,900 --> 00:07:54,669 190 00:07:54,900 --> 00:07:57,900 191 00:07:57,900 --> 00:08:04,933 192 00:08:05,900 --> 00:08:08,768 193 00:08:08,768 --> 00:08:10,768 194 00:08:10,768 --> 00:08:13,700 195 00:08:13,700 --> 00:08:15,909 196 00:08:15,909 --> 00:08:17,433 197 00:08:17,433 --> 00:08:19,946 198 00:08:20,099 --> 00:08:21,700 199 00:08:21,700 --> 00:08:24,070 200 00:08:24,233 --> 00:08:25,566 201 00:08:25,566 --> 00:08:28,634 202 00:08:28,634 --> 00:08:31,167 203 00:08:31,167 --> 00:08:32,500 204 00:08:32,500 --> 00:08:33,700 205 00:08:33,700 --> 00:08:34,966 206 00:08:34,966 --> 00:08:36,500 207 00:08:36,500 --> 00:08:38,100 208 00:08:38,100 --> 00:08:40,933 209 00:08:40,966 --> 00:08:44,967 210 00:08:44,967 --> 00:08:48,033 211 00:08:48,033 --> 00:08:50,518 212 00:08:50,518 --> 00:08:52,467 213 00:08:52,835 --> 00:08:56,000 214 00:08:56,166 --> 00:08:58,333 215 00:08:58,633 --> 00:09:02,566 216 00:09:02,566 --> 00:09:03,700 217 00:09:03,700 --> 00:09:06,166 218 00:09:06,166 --> 00:09:09,766 219 00:09:09,766 --> 00:09:12,200 220 00:09:12,300 --> 00:09:15,000 221 00:09:15,033 --> 00:09:21,766 222 00:09:21,766 --> 00:09:27,712 223 00:09:27,712 --> 00:09:29,433 224 00:09:29,433 --> 00:09:32,033 225 00:09:32,033 --> 00:09:34,367 226 00:09:34,367 --> 00:09:38,167 227 00:09:38,167 --> 00:09:40,233 228 00:09:40,233 --> 00:09:43,700 229 00:09:43,700 --> 00:09:46,333 230 00:09:46,633 --> 00:09:48,268 231 00:09:49,373 --> 00:09:51,200 232 00:09:51,367 --> 00:09:59,268 233 00:09:59,833 --> 00:10:03,100 234 00:10:03,100 --> 00:10:04,233 235 00:10:04,233 --> 00:10:06,200 236 00:10:07,500 --> 00:10:10,466 237 00:10:10,767 --> 00:10:14,366 238 00:10:14,366 --> 00:10:16,166 239 00:10:16,166 --> 00:10:18,500 240 00:10:18,500 --> 00:10:19,966 241 00:10:19,966 --> 00:10:24,734 242 00:10:25,033 --> 00:10:27,766 243 00:10:27,766 --> 00:10:29,600 244 00:10:30,366 --> 00:10:32,033 245 00:10:32,033 --> 00:10:34,367 246 00:10:34,367 --> 00:10:35,901 247 00:10:35,901 --> 00:10:37,500 248 00:10:37,500 --> 00:10:39,033 249 00:10:39,033 --> 00:10:40,771 250 00:10:40,771 --> 00:10:43,066 251 00:10:43,169 --> 00:10:45,166 252 00:10:45,166 --> 00:10:47,610 253 00:10:47,634 --> 00:10:49,267 254 00:10:49,300 --> 00:10:52,099 255 00:10:52,099 --> 00:10:53,301 256 00:10:53,301 --> 00:10:57,300 257 00:10:57,300 --> 00:11:01,435 258 00:11:01,435 --> 00:11:03,834 259 00:11:03,834 --> 00:11:05,734 260 00:11:05,834 --> 00:11:10,767 261 00:11:10,767 --> 00:11:12,766 262 00:11:12,766 --> 00:11:15,233 263 00:11:15,233 --> 00:11:20,933 264 00:11:21,702 --> 00:11:23,266 265 00:11:24,690 --> 00:11:26,368 266 00:11:26,368 --> 00:11:28,669 267 00:11:28,669 --> 00:11:29,966 268 00:11:29,966 --> 00:11:31,500 269 00:11:31,500 --> 00:11:38,966 270 00:11:38,966 --> 00:11:42,700 271 00:11:42,700 --> 00:11:45,838 272 00:11:45,838 --> 00:11:49,264 273 00:11:49,264 --> 00:11:50,833 274 00:11:50,833 --> 00:11:53,033 275 00:11:53,033 --> 00:11:55,033 276 00:11:55,033 --> 00:11:56,767 277 00:11:56,767 --> 00:11:59,801 278 00:11:59,966 --> 00:12:02,048 279 00:12:02,048 --> 00:12:04,933 280 00:12:05,101 --> 00:12:06,867 281 00:12:08,033 --> 00:12:11,900 282 00:12:11,900 --> 00:12:14,100 283 00:12:14,100 --> 00:12:17,933 284 00:12:18,166 --> 00:12:23,433 285 00:12:23,433 --> 00:12:24,500 286 00:12:24,500 --> 00:12:26,653 287 00:12:26,653 --> 00:12:31,933 288 00:12:31,969 --> 00:12:34,068 289 00:12:34,367 --> 00:12:41,966 290 00:12:41,966 --> 00:12:44,966 291 00:12:44,966 --> 00:12:47,434 292 00:12:47,649 --> 00:12:51,114 293 00:12:51,114 --> 00:12:54,367 294 00:12:54,367 --> 00:12:58,701 295 00:12:58,701 --> 00:13:01,033 296 00:13:01,033 --> 00:13:03,166 297 00:13:03,166 --> 00:13:05,233 298 00:13:05,233 --> 00:13:06,433 299 00:13:06,433 --> 00:13:07,766 300 00:13:07,766 --> 00:13:09,500 301 00:13:09,500 --> 00:13:12,233 302 00:13:12,233 --> 00:13:14,600