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单词 到期收益率
释义 到期收益率
YTM
英文Yield To Maturity的缩写,是比较债券投资时需考虑的关键指标。投资人按当前市价买进债券,如期收到全部利息和赎回本金,并一直持有至债券到期可获得的回报率即是到期收益率。将债券未来的现金流以到期收益率折现为现值,会等於债券的市价。到期收益率的计算内含一个假设,即到期前收到的全部利息均按到期收益率再投资。
"Yield To Maturity. YTM is the rate of return expected on a bond if it is held until maturity and is a key consideration when comparing bond investments. It is calculated by taking into account its coupon, current market price and time to maturity. The yield to maturity, expressed as an annualized rate of return, assumes all coupons from the bonds will be reinvested at the same rate. The calculation is necessarily complicated but can be done rapidly by software to allow the market to instantly compare the yield to maturity of various instruments. The principal repayment due on maturity, plus the present inflation-adjusted value of all future coupon payments should, in theory, equal the current market price of a bond."
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更新时间:2025/1/22 15:40:21