CFA® glossary: Y

2 terms beginning with Y.

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Yield to maturity

The single rate equating a bond's price with its cash flows. A promised return, realised only if it is held, paid, and every coupon reinvested at that same rate. Where it appears →

Yield to worst

The lowest of the yields to maturity and to each call date. The issuer picks, so it is the outcome to plan on.