{"id":27394,"date":"2024-01-19T13:15:04","date_gmt":"2024-01-19T18:15:04","guid":{"rendered":"https:\/\/breakingintowallstreet.com\/?post_type=biws_kb&#038;p=27394"},"modified":"2024-08-14T06:23:54","modified_gmt":"2024-08-14T11:23:54","slug":"yield-to-worst","status":"publish","type":"biws_kb","link":"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-worst\/","title":{"rendered":"Yield to Worst (YTW): Definition, Intuition, and Excel Calculation Examples"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-flat ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Yield to Worst (YTW): Definition, Intuition, and Excel Calculation Examples<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-worst\/#Yield_to_Worst_Definition\">Yield to Worst Definition<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-worst\/#Yield_to_Worst_YTW_Simple_Calculation_and_Excel_Example\">Yield to Worst (YTW): Simple Calculation and Excel Example<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-worst\/#The_Relationship_Between_the_Yield_to_Worst_YTW_and_Bond_Discounts_and_Premiums\">The Relationship Between the Yield to Worst (YTW) and Bond Discounts and Premiums<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-worst\/#Why_Does_the_Yield_to_Worst_Matter_in_Real_Life\">Why Does the Yield to Worst Matter in Real Life?<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-worst\/#Current_Yield_vs_Yield_to_Maturity_vs_Yield_to_Call_vs_Yield_to_Worst\">Current Yield vs. Yield to Maturity vs. Yield to Call vs. Yield to Worst<\/a><\/li><\/ul><\/nav><\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"Yield_to_Worst_Definition\"><\/span>Yield to Worst Definition<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<blockquote><p>The \u201cYield to Worst\u201d (YTW) of a bond is the <em>worst-case<\/em> possible annualized return an investor could earn if they buy the bond at today\u2019s market price and hold it until either maturity or until the company \u201ccalls\u201d it by repaying it early; it\u2019s the minimum of the Yield to Call on each possible call date and the Yield to Maturity.<\/p><\/blockquote>\n<p>The true \u201cworst-case scenario\u201d is that the company will <strong>default<\/strong> on its debt and not be able to pay interest or repay the debt principal on time; the YTW is the \u201cworst-case scenario <em>assuming interest and principal repayments still happen.<\/em>\u201d<\/p>\n<p>When a bond trades <strong>at or below par value<\/strong>, the <strong>Yield to Worst equals the Yield to Maturity<\/strong>.<\/p>\n<p>In other words, the worst-case outcome for investors in this case is to hold the bond until it matures. If the company \u201ccalls it\u201d by repaying the bond early, the investors will earn a <strong>higher annualized return.<\/strong><\/p>\n<p>When a bond trades <strong>at a premium to par value<\/strong>, the <strong>Yield to Worst is less than the Yield to Maturity<\/strong>.<\/p>\n<p>In other words, if the investors pay a premium for a bond, they <em>earn more <\/em>if the company waits until the official maturity date to repay the bond rather than repaying it early.<\/p>\n<p>This is because when investors pay a premium, that extra amount is \u201cdistributed\u201d over a shorter time frame if the company repays the bond early, which hurts the average annualized returns.<\/p>\n<div class='code-block code-block-2' style='margin: 8px 0; clear: both;'>\n<div class=\"kb-adinsert-modal\">\n    <div class=\"kb-adinsert-top\">\n      <div class=\"media\">\n          <img decoding=\"async\" class=\"alignnone size-full wp-image-28448\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/04\/24164120\/adv-fm-tile.png\" alt=\"PowerPoint Pro\" width=\"128\" height=\"128\" \/>\n      <\/div>\n      <div class=\"content\">\n          <h3>Master Financial Modeling for Investment Banking With <strong>BIWS Core Financial Modeling<\/strong><\/h3>\n      <\/div>\n    <\/div>\n    \n    <div class=\"full_text\">\n    \t<ul>\n        \t<li>\n            \t<h4>Become a financial modeling pro<\/h4>\n              <p>158 videos, detailed written guides, Excel files, quizzes, and more<\/p>\n\t\t\t    <\/li>\n          <li>\n          \t<h4>Complete 10+ detailed global case studies<\/h4>\n            <p>These include both the theory and the practical applications<\/p>\n\t\t\t    <\/li>\n          <li>\n          \t<h4>Prepare for your internship or full-time job<\/h4>\n            <p>Gain the skills you need to \u201chit the ground running\u201d on Day 1\n\n<\/p>\n\t\t\t  <\/li>\n      <\/ul>\n        \n      <a class=\"cta-link orange-button-medium\" href=\"https:\/\/breakingintowallstreet.com\/core-financial-modeling\/\" target=\"_blank\">Full Details<\/a>\n      \n      <a class=\"cta-link orange-button-medium bg-blue\" href=\"https:\/\/biws-support.s3.us-east-1.amazonaws.com\/Course-Outlines\/Core-Financial-Modeling-Course-Outline.pdf\" target=\"_blank\" rel=\"noopener\">Short Outline<\/a>\n    <\/div>\n<\/div><\/div>\n\n<p>The YTW helps investors evaluate the worst-case scenarios and target specific return ranges.<\/p>\n<p>In real life, the Yield to Worst is a common method of <strong>pricing and comparing bonds<\/strong>.<\/p>\n<p>Metrics such as the <a href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-call\/\" target=\"_blank\" rel=\"noopener\">Yield to Call<\/a> do not work as well for comparing different bonds because each bond has different call dates and penalty fees for early repayment on those dates.<\/p>\n<p>But the YTW is a <strong>single metric<\/strong> that factors in every possible YTC and the <a href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-maturity\/\" target=\"_blank\" rel=\"noopener\">YTM<\/a> and, therefore, lets you easily compare many different bonds.<\/p>\n<h3><strong>Files &amp; Resources:<\/strong><\/h3>\n<p><a href=\"https:\/\/youtube-breakingintowallstreet-com.s3.us-east-1.amazonaws.com\/Debt-Equity\/Bond-Yield\/Yield-to-Maturity-Formula.xlsx\" target=\"_blank\" rel=\"noopener\">Bond Yields &#8211; Formulas and Examples (XL)<\/a><\/p>\n<p><a href=\"https:\/\/youtube-breakingintowallstreet-com.s3.us-east-1.amazonaws.com\/Debt-Equity\/Bond-Yield\/Yield-to-Worst-Excel-Example.xlsx\" target=\"_blank\" rel=\"noopener\">Yield to Call and Yield to Worst &#8211; Excel Examples (XL)<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Yield_to_Worst_YTW_Simple_Calculation_and_Excel_Example\"><\/span><strong>Yield to Worst (YTW): Simple Calculation and Excel Example<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Suppose that a bond\u2019s maturity date is June 15<sup>th<\/sup>, 2031, and it currently trades at a <strong>5% discount to par value<\/strong> (market price of $950 vs. par value of $1000). It has a coupon rate of 5%.<\/p>\n<p>The <strong>call premiums<\/strong> or <strong>penalty fees for early repayment<\/strong> range from 5.3% in the current year (2024) down to 0% in the final two years (2030 and 2031).<\/p>\n<p>Additionally, the bond is <strong>callable<\/strong> \u2013 meaning the company can repay it early \u2013 on June 15<sup>th<\/sup> and December 15<sup>th<\/sup> of each year.<\/p>\n<p>To calculate the <strong>Yield to Worst<\/strong> for this bond, you\u2019d start by calculating the <strong>Yield to Call<\/strong> on each possible call date:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-27395 size-full\" title=\"Yield to Call Calculations\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130824\/01-Yield-to-Call-Calculations.jpg\" alt=\"Yield to Call Calculations\" width=\"1344\" height=\"832\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130824\/01-Yield-to-Call-Calculations.jpg 1344w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130824\/01-Yield-to-Call-Calculations-300x186.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130824\/01-Yield-to-Call-Calculations-1024x634.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130824\/01-Yield-to-Call-Calculations-768x475.jpg 768w\" sizes=\"(max-width: 1344px) 100vw, 1344px\" \/><\/p>\n<p>The Yield to Call is based on the current market price of the bond, the \u201csettlement date\u201d (the purchase date), the coupon rate, the repayment date, and the percentage of the original principal that gets repaid, which reflects the penalty fee.<\/p>\n<p>Once you have all these, you can calculate the Yield to Maturity using the same Excel function, but with a different repayment date and no penalty fee (i.e., the \u201cRedemption Value\u201d should be 100):<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-27396 size-full\" title=\"Yield to Maturity\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130849\/02-Yield-to-Maturity.jpg\" alt=\"Yield to Maturity\" width=\"1593\" height=\"560\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130849\/02-Yield-to-Maturity.jpg 1593w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130849\/02-Yield-to-Maturity-300x105.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130849\/02-Yield-to-Maturity-1024x360.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130849\/02-Yield-to-Maturity-768x270.jpg 768w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130849\/02-Yield-to-Maturity-1536x540.jpg 1536w\" sizes=\"(max-width: 1593px) 100vw, 1593px\" \/><\/p>\n<p>Then, you can take the minimum of all the YTCs and the YTM to calculate the <strong>Yield to Worst.<\/strong><\/p>\n<p>Here\u2019s the Excel output for this scenario:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-27397 size-full\" title=\"Yield to Worst Calculation\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130922\/03-Yield-to-Worst.jpg\" alt=\"Yield to Worst Calculation\" width=\"1253\" height=\"724\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130922\/03-Yield-to-Worst.jpg 1253w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130922\/03-Yield-to-Worst-300x173.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130922\/03-Yield-to-Worst-1024x592.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130922\/03-Yield-to-Worst-768x444.jpg 768w\" sizes=\"(max-width: 1253px) 100vw, 1253px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Relationship_Between_the_Yield_to_Worst_YTW_and_Bond_Discounts_and_Premiums\"><\/span><strong>The Relationship Between the Yield to Worst (YTW) and Bond Discounts and Premiums<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Since this is a <strong>discount bond<\/strong>, the YTW equals the YTM. In other words, investors get the <strong>worst deal<\/strong> if the company waits until the official maturity to repay the bond.<\/p>\n<p>For a <strong>premium bond<\/strong>, the YTW is <strong>less than<\/strong> the YTM because in this case, it\u2019s worse for the investors if the company repays the bond early.<\/p>\n<p>Here\u2019s an example of the same scenario, but with a bond that trades at a 5% premium (market price of $1,050 vs. a par value of $1,000):<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-27398 size-full\" title=\"Yield to Worst for a Premium Bond\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130950\/04-YTW-Premium-Bond.jpg\" alt=\"Yield to Worst for a Premium Bond\" width=\"1174\" height=\"590\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130950\/04-YTW-Premium-Bond.jpg 1174w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130950\/04-YTW-Premium-Bond-300x151.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130950\/04-YTW-Premium-Bond-1024x515.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19130950\/04-YTW-Premium-Bond-768x386.jpg 768w\" sizes=\"(max-width: 1174px) 100vw, 1174px\" \/><\/p>\n<p>The YTW can <strong>never<\/strong> exceed the YTM; it\u2019s always less than or equal to the YTM, depending on the bond\u2019s price:<\/p>\n<p><strong>Discount Bond:<\/strong> YTW = YTM<\/p>\n<p><strong>Par Value Bond:<\/strong> YTW = YTM<\/p>\n<p><strong>Premium Bond:<\/strong> YTW &lt; YTM<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Does_the_Yield_to_Worst_Matter_in_Real_Life\"><\/span><strong>Why Does the Yield to Worst Matter in Real Life?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In investment banking groups such as <a href=\"https:\/\/mergersandinquisitions.com\/leveraged-finance\/\" target=\"_blank\" rel=\"noopener\">Leveraged Finance<\/a> and <a href=\"https:\/\/mergersandinquisitions.com\/debt-capital-markets\/\" target=\"_blank\" rel=\"noopener\">Debt Capital Markets<\/a>, you often use the <strong>Yield to Worst<\/strong> as part of the Debt comps (i.e., an analysis of comparable Debt issuances from similar companies) when advising clients on possible refinancings.<\/p>\n<p>For example, the YTW might give a client an approximate idea of what they might pay on a new bond issuance if they want to raise capital.<\/p>\n<p>This YTW <em>might<\/em> represent the coupon rate on a new bond, but it could also represent the &#8220;overall yield&#8221; on the bond, which might include a possible <a href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/original-issue-discount-debt\/\" target=\"_blank\" rel=\"noopener\">original issue discount (OID)<\/a> and call premium as well.<\/p>\n<p>For example, even if the YTW is 8%, it doesn&#8217;t necessarily mean the company has to issue a new bond with an 8% coupon rate.<\/p>\n<p>Instead, the company might be able to issue bonds at a 7.0% or 7.5% coupon rate and then <strong>offer investors a discount<\/strong> on the purchase that results in a yield closer to 8%.<\/p>\n<p>The YTW is almost always included as a key field in these \u201cComparable Debt Issuances,\u201d as shown below in a case study based on Netflix and its peer media\/streaming companies, taken from our <a href=\"https:\/\/breakingintowallstreet.com\/advanced-financial-modeling\/\" target=\"_blank\" rel=\"noopener\">Advanced Financial Modeling course<\/a>:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-27399 size-full\" title=\"Yield to Worst in Debt Comparables\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131014\/05-YTW-Netflix-scaled.jpg\" alt=\"Yield to Worst in Debt Comparables\" width=\"2560\" height=\"653\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131014\/05-YTW-Netflix-scaled.jpg 2560w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131014\/05-YTW-Netflix-300x77.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131014\/05-YTW-Netflix-1024x261.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131014\/05-YTW-Netflix-768x196.jpg 768w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131014\/05-YTW-Netflix-1536x392.jpg 1536w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131014\/05-YTW-Netflix-2048x523.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-27400 size-full\" title=\"Yield to Worst Summary for Netflix Debt Comps\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131040\/06-YTW-Netflix-Summary-scaled.jpg\" alt=\"Yield to Worst Summary for Netflix Debt Comps\" width=\"2560\" height=\"568\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131040\/06-YTW-Netflix-Summary-scaled.jpg 2560w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131040\/06-YTW-Netflix-Summary-300x67.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131040\/06-YTW-Netflix-Summary-1024x227.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131040\/06-YTW-Netflix-Summary-768x171.jpg 768w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131040\/06-YTW-Netflix-Summary-1536x341.jpg 1536w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/01\/19131040\/06-YTW-Netflix-Summary-2048x455.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Yield_vs_Yield_to_Maturity_vs_Yield_to_Call_vs_Yield_to_Worst\"><\/span><strong>Current Yield vs. Yield to Maturity vs. Yield to Call vs. Yield to Worst<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These yield metrics all measure the <strong>returns<\/strong> an investor can expect to receive on a bond, but they do it in different ways.<\/p>\n<p><strong>&#8211;<a href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/current-yield\/\" target=\"_blank\" rel=\"noopener\">Current Yield<\/a><\/strong>: This tells you the percentage investors would earn on a bond if they bought it today and <strong>held it for a year<\/strong>, factoring in the market price and the coupon rate on the bond.<\/p>\n<p><strong>&#8211;<a href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-maturity\/\" target=\"_blank\" rel=\"noopener\">Yield to Maturity<\/a><\/strong>: This gives the annualized return investors earn if they buy a bond at its current market price and <strong>hold it until maturity<\/strong>, assuming the company makes all the required payments and the investor reinvests the interest payments at the same rate as the overall return.<\/p>\n<p><strong>&#8211;<a href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-call\/\" target=\"_blank\" rel=\"noopener\">Yield to Call<\/a><\/strong>: This is similar to the YTM, but investors hold the bond only until <strong>an earlier call date<\/strong>, not the maturity date, and also receive some type of penalty fee paid by the company in exchange for this early repayment.<\/p>\n<p><strong>&#8211;<a href=\"https:\/\/breakingintowallstreet.com\/kb\/debt-equity\/yield-to-worst\/\" target=\"_blank\" rel=\"noopener\">Yield to Worst<\/a><\/strong>: This is the lowest annualized return an investor might receive from buying and holding a bond until <em>either<\/em> early repayment <em>or<\/em> maturity, i.e., it is the <strong>minimum<\/strong> of all the YTCs and the YTM.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The \u201cYield to Worst\u201d (YTW) of a bond is the worst-case possible annualized return an investor could earn if they buy the bond at today\u2019s market price and hold it until either maturity or until the company \u201ccalls\u201d it by repaying it early; it\u2019s the minimum of the Yield to Call on each possible call date and the Yield to Maturity.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-27394","biws_kb","type-biws_kb","status-publish","hentry","kb_category-debt-equity"],"acf":[],"_links":{"self":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/biws_kb\/27394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/biws_kb"}],"about":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/types\/biws_kb"}],"wp:attachment":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/media?parent=27394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}