I find the yield numbers displayed on pendle PTs to be a little misleading
They display them as APY but it's not like some auto compounding vault... should be APR
Basically they're assuming that after 100 days... I'll be able to take the entire amount and get the exact same fixed yield for another 100 days for an entire year
this amplifies when looping, because borrow markets do the opposite, and the borrow rates are displayed as apr when your borrow actually is compounding as it grows
everyone is just doing whatever looks best from their angle
from the user perspective, would prefer everything that isn't an auto compounding vault to be APR... or at least have a toggle
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