yield to maturity[YTM]　

yield to maturity[YTM]　到期日收益率，全期收益率　

1.the internal rate of return on an investment.Considers all inflows and outflows of investment returns and their timing which is contrast with current yield.2.the rate of return anticipated on a bond held until the maturity date.YTM is considered a long term bond yield expressed as an annual rate.The calculation takes into account the current market price，par value，coupon interest rate，and time to maturity.It is also assumed that all coupons are reinvested at the same rate.Sometimes this is referred to as a bond’s“yield”for short.