Abstract
This note attempts to further spell out why it is a myth that YTM is viewed as only a promised but not really earned interest rate. It addresses some misconceptions in Shirnani and Wilbratte (2009, this issue) on what, between YTM and RCY, is a true rate of return of a coupon bond, why YTM is NOT just a “fictitious mathematical construct”, and why YTM has nothing to do with yield curve.
Recommended Citation
(2026)
"Yield to Maturity Is Always Received as Promised: A Reply,"
Journal of Economics and Finance Education: Vol. 8:
Iss.
2, Article 5.
Available at:
https://scholarship.rollins.edu/jefe/vol8/iss2/5
