#bonds #finance #yield-to-maturity
Yield to Maturity is an estimation of future return, as the rate at which coupon payments can be reinvested at is unknown.
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Yield to Maturity the way until maturity while reinvesting all coupon payments at the bond yield. It should not be confused with holding period return, as the two often differ. Yield to maturity is generally given in terms of Annual Percentage Rate (APR), and <span>it is an estimation of future return, as the rate at which coupon payments can be reinvested at is unknown. However, for zero coupon bonds, the yield to maturity and the rate of return are equivalent since there are no coupon payments to reinvest.
Another way of putting it is that the yield to Summary
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