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Group of 100 Discount Rate

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Figure

FIGURE 2: AUSTRALIAN CORPORATE BOND MARKET OUTSTANDING DEBT BY COMBINED CREDIT RATING ($ MILLIONS)  Combined  Rating  Number of Securities  Outstanding ($ Millions)  % of Total  AAA  13  6,475  8.4%  AA  90  26,430  34.3%  A  99  28,080  36.4%  BBB  50  15
Figure 6 shows the modelled yield-to-maturity for each bond in the asset calibration set, compared with the actual  yield-to-maturity, using the MLES method with inverse duration weightings
FIGURE 7: SPOT AND FORWARD RATE CURVES FOR ASSET CALIBRATION SET USING AN MLES INTERPOLATION AND CONSTANT  FORWARD RATE EXTRAPOLATION METHOD
Figure 9 shows the resulting spot rate curve of one to 30 years relative to the prior period fitted curve

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