モーゲージ証券の期近と期先

最近ＭＢＳに関する本を読みながらちょっと悩んでいます。元本と残高が別の値になっているそうです。In discussing a scenario whereby the June MBS is purchased, the remaining balance in July is 985645, but the July principal value is 991497. It is also unclear how discounting the delayed June cash flow of 19355 back 12 days results in 19323 at a 5% interest rate. It seems that the 991497 could be a result of the purchase price of 1 million at 100 par (where market price is 100-19/32) minus the June principal of around 14300, but this is not the remaining principal but the balance of the bond's present value after this principal payment is deducted.