yield to maturity

简明释义

期末收益

英英释义

例句

1.When assessing a bond's value, the yield to maturity 到期收益率 is a critical factor to consider.

在评估债券的价值时，yield to maturity 到期收益率是一个关键因素。

2.Analysts often calculate the yield to maturity 到期收益率 to provide insights into the bond market trends.

分析师通常计算yield to maturity 到期收益率以提供对债券市场趋势的见解。

3.Investors often look at the yield to maturity 到期收益率 of a bond to determine its potential return.

投资者通常会查看债券的yield to maturity 到期收益率以确定其潜在回报。

4.A higher yield to maturity 到期收益率 usually indicates a higher risk associated with the bond.

较高的yield to maturity 到期收益率通常表示与该债券相关的风险较高。

5.The yield to maturity 到期收益率 helps investors compare bonds with different maturities and coupon rates.

yield to maturity 到期收益率帮助投资者比较不同到期日和票息的债券。

作文

When it comes to investing in bonds, understanding the concept of yield to maturity is crucial for making informed decisions. The yield to maturity (YTM) represents the total return an investor can expect to earn if the bond is held until it matures. It takes into account not only the interest payments that the bondholder receives but also any capital gains or losses that may occur as a result of changes in the bond's price over time. This makes YTM a comprehensive measure of a bond's profitability and an essential tool for investors looking to compare different bonds. To calculate the yield to maturity, one must consider several factors, including the bond's current market price, its face value, the coupon interest rate, and the number of years remaining until maturity. The formula for YTM is complex, often requiring iterative calculations or financial calculators to solve accurately. However, the basic idea is that it reflects the internal rate of return on the bond investment, assuming that all coupon payments are reinvested at the same rate as the YTM. Investors often use yield to maturity to evaluate the attractiveness of a bond relative to other investment opportunities. For instance, if a bond has a higher YTM than the prevailing interest rates for similar bonds, it may be considered a good investment. Conversely, if the YTM is lower, it might signal that the bond is overpriced or less desirable compared to alternatives. Moreover, the yield to maturity can also indicate the level of risk associated with a bond. Generally, bonds with higher yields tend to carry more risk, as they may be issued by entities with lower credit ratings. Investors must weigh the potential returns against the risks involved when considering bonds with high YTM. Understanding this relationship is vital for constructing a balanced investment portfolio. In addition to its role in evaluating individual bonds, yield to maturity plays a significant part in the broader context of fixed-income investing. It helps investors gauge market trends and interest rate movements. For example, if interest rates are expected to rise, existing bonds with lower YTM may decline in value, as new bonds are issued with higher yields. This inverse relationship between bond prices and interest rates is a fundamental principle in bond investing. Furthermore, the yield to maturity concept is not limited to bonds alone; it can also apply to other fixed-income securities, such as preferred stocks and certain types of loans. By understanding how YTM works across various asset classes, investors can make more informed choices about where to allocate their capital. In conclusion, mastering the concept of yield to maturity is essential for any serious investor in the bond market. It provides valuable insights into the potential returns of a bond investment while also highlighting the associated risks. By considering YTM alongside other financial metrics, investors can develop a more comprehensive view of their investment options and make strategic decisions that align with their financial goals. As the financial landscape continues to evolve, staying informed about key concepts like yield to maturity will empower investors to navigate the complexities of the market effectively.

在投资债券时，理解“到期收益率”（yield to maturity）的概念对于做出明智的决策至关重要。到期收益率（YTM）代表了投资者如果持有债券直到到期所能期待获得的总回报。它不仅考虑了债券持有人收到的利息支付，还包括由于债券价格随时间变化而可能发生的资本收益或损失。这使得YTM成为衡量债券盈利能力的综合指标，是投资者比较不同债券的重要工具。要计算到期收益率，必须考虑几个因素，包括债券的当前市场价格、面值、票息利率和到期前剩余的年数。YTM的公式较为复杂，通常需要迭代计算或使用金融计算器才能准确解决。然而，基本思想是它反映了债券投资的内部收益率，假设所有的利息支付以与YTM相同的利率再投资。投资者通常使用到期收益率来评估债券相对于其他投资机会的吸引力。例如，如果一只债券的YTM高于类似债券的现行利率，它可能被视为良好的投资。相反，如果YTM较低，则可能表明该债券被高估或相对于替代品不那么理想。此外，到期收益率还可以指示与债券相关的风险水平。通常，收益率较高的债券往往承载更高的风险，因为它们可能由信用评级较低的实体发行。投资者在考虑高YTM的债券时，必须权衡潜在回报与所涉及的风险之间的关系。理解这种关系对于构建一个平衡的投资组合至关重要。除了在评估单个债券中的作用，到期收益率在固定收益投资的更广泛背景中也发挥着重要作用。它帮助投资者评估市场趋势和利率变动。例如，如果预计利率将上升，现有的低YTM债券可能会贬值，因为新债券以更高的收益率发行。债券价格与利率之间的这种反向关系是债券投资的基本原理。此外，到期收益率的概念不仅限于债券；它还可以适用于其他固定收益证券，如优先股和某些类型的贷款。通过理解YTM在各种资产类别中的运作，投资者可以对资本分配做出更明智的选择。总之，掌握到期收益率的概念对于任何认真对待债券市场的投资者而言都是必不可少的。它提供了关于债券投资潜在回报的宝贵见解，同时突显了相关风险。通过将YTM与其他财务指标结合考虑，投资者可以对其投资选择形成更全面的看法，并做出与其财务目标一致的战略决策。随着金融环境的不断演变，了解像到期收益率这样关键的概念将使投资者能够有效地驾驭市场的复杂性。