Yield to maturity (YTM) - Financial definition
Concise definition of the term yield to maturity
Yield to maturity is the annual rate of return anticipated for a bond if it is held until its maturity.
Comprehensive definition of the term yield to maturity
The concept of yield to maturity is based on the hypothesis that all coupon payments before maturity can be reinvested at that exact same rate, which usually is not the case.