🚀 Yield to maturity, also known as redemption yield, is a key indicator of bond returns. In the bond market of 2025, YTM has become an essential tool for investors.

The YTM calculation for zero-coupon bonds is quite straightforward. For coupon bonds, you need to use Excel. It's a bit complicated. 🧮

YTM is more comprehensive than the current yield. It looks at the entire cash flow. Long-term investors seem to prefer it.

Callable bonds? That's a different story. We also need to look at YTC and YTW. One estimates early redemption, and the other provides a conservative expectation. Interesting. 🌟

Interest rates will be low in 2025. These indicators have become more important. Investors need to be flexible. Each bond is different, and the goals are also different.

It seems a bit difficult. But that’s the charm of bond investing, right? 💡