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Yield to maturity (YTM)
A bond's return assuming it is held to maturity and every coupon is reinvested.
How to read the number
It is the only correct way to compare two bonds with different coupons and maturities.
When the metric lies
The assumption that coupons are reinvested at the same rate is almost never met. For a bond with a put date, yield must be calculated to that date instead.
Also known as: yield to maturity, ytm