yield is not available in vba starting from 2007, use the following
sub try ()
SetDate = "2008-02-15"
MatDate = "2016-11-15"
pc = 0.0575
Price = 95.04287
redVal = 100
freq = 2
basis = 0
s = "yield(" & """" & SetDate & """" & "," & """" & MatDate & """" & "," & pc & "," & Price & "," & redVal & "," & freq & "," & basis & ")"
x = Evaluate(s)
end sub