We've been using this formula to price Bonds. c/y + (100-(c/y))/(1+y)^m where c=coupon y=yield to maturity m=time to maturity
Let's take a 10 year U.S treasury for example.
Price of existing bonds change according to new bonds issued on the market at par.
So to price an existing 10-year US Treasury, do we look at the y-t-m of a
newly issued 10-year US- treasury, to insert into the formula above?
If that is the case, does that mean that all bonds of the same maturity have the same yield to maturity?