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authorColin Delahunty <72827203+colin99d@users.noreply.github.com>2023-05-26 05:56:38 -0700
committerGitHub <noreply@github.com>2023-05-26 12:56:38 +0000
commitd0b815b8f7d7d608ed10193cc57d2879a593aa16 (patch)
tree92306a171b0d37c0361b3e771ff108ee88d1bed8
parent8e21b340e0b657e359de0e63a1a8032153a6c89b (diff)
Cleaned up CP (#5070)
Co-authored-by: James Maslek <jmaslek11@gmail.com> Co-authored-by: Danglewood <85772166+deeleeramone@users.noreply.github.com>
-rw-r--r--openbb_terminal/fixedincome/fred_view.py33
1 files changed, 30 insertions, 3 deletions
diff --git a/openbb_terminal/fixedincome/fred_view.py b/openbb_terminal/fixedincome/fred_view.py
index c11fe827315..71fbdf7e210 100644
--- a/openbb_terminal/fixedincome/fred_view.py
+++ b/openbb_terminal/fixedincome/fred_view.py
@@ -1452,9 +1452,36 @@ def plot_cp(
)
if description:
- for title, description_text in series[["Title", "Description"]].values:
- console.print(f"\n[bold]{title}[/bold]")
- console.print(description_text)
+ message = (
+ "To calculate CP interest rate indexes, the Federal Reserve Board uses DTCC's data for certain trades"
+ " to estimate a relation between interest rates on the traded securities and their maturities. In this"
+ " calculation, the trades represent sales of CP by dealers or direct issuers to investors (that is,"
+ " the offer side) and are weighted according to the face value of the CP so that larger trades have"
+ " a greater effect on the resulting index. With the relation between interest rates and maturities"
+ " established, the reported interest rates represent the estimated interest rates for the specified"
+ " maturities.\n\n"
+ "Interest rates calculated through the process described above are a statistical aggregation"
+ " of numerous data reflecting many trades for different issuers, maturities, and so forth."
+ " Accordingly, the reported interest rates purport to reflect activity in certain segments"
+ " of the market, but they may not equal interest rates for any specific trade. As with other"
+ " statistical processes, this one is designed to minimize the difference between the interest"
+ " rates at which actual trades occur and the estimated interest rates.\n\n"
+ "CP trades included in the calculation are chosen according to the specifications listed in the"
+ " table below. Data to assess CP trades relative to these criteria are updated daily from numerous"
+ " publicly available sources. Standard Industrial Classification (SIC) code classifications are"
+ " taken from the Securities and Exchange Commission (SEC) Directory of Companies Required to File"
+ ' Annual Reports with the SEC. When an issuer"s primary SIC code is not reported in the SEC'
+ ' directory, the primary SIC code reported in the issuer"s financial reports is used; otherwise,'
+ " SIC codes are determined upon consultation with the Office of Management and Budget's Standard "
+ "Industrial Classification Manual or its Supplement.\n\n"
+ "For a discussion of econometric techniques for fitting the term structure of interest rates, including"
+ ' bibliographic information, see, for example, William S. Cleveland, 1979, "Robust Locally'
+ ' Weighted Regression and Smoothing Scatterplots," Journal of the American Statistical Association,'
+ " 74, 829-36, or William S. Cleveland, Susan J. Devlin, and Eric Grosse, 1988,"
+ ' "Regression by Local Fitting," Journal of Econometrics, 37, 87-114.\n\n'
+ "Source: https://www.federalreserve.gov/releases/cp/about.htm"
+ )
+ console.print(message)
export_data(
export,