Definition
YTM combines the coupon payments with any gain or loss from buying at a price above or below face value. It lets you compare bonds with different prices and coupons.
Academy › Glossary › Macro & Rates
Yield to maturity (YTM)
The total return on a bond if it is held until it matures, given its current price.
Learn it in context with PDB Academy
Guides, short videos and a plain-English glossary in one place, with tools to try each idea on real market data. The basics are free.
Create a free accountOpen PDB Academy