On a 91-day T-bill issued at 99, the discount yield will be higher than the bond equivalent yield.

Name: On a 91-day T-bill issued at 99, the discount yield will be higher than the bond equivalent yield.
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The bond equivalent yield (BEY) is typically higher than the discount yield for T-bills because BEY accounts for the actual number of days in a year (365 or 366), while the discount yield is based on a 360-day year.

On a 91-Day T-Bill Issued at 99, the Discount Yield