c instructions plural: an outline or manual of technical procedure : directions d: a code that tells a computer to perform a particular operation 2: the action, practice, or profession of teaching
The yield curve describes the yields for Treasury bills, notes and bonds. It's called a curve because, if it were plotted on a graph, the yields would normally slope up. That's because Treasury bills, which are of short duration, don't usually pay as high a yield as the notes and even longer-term bonds. Why?
Yield to maturity. Definition: The percentage rate of return paid on a bond, note, or other fixed income security if the investor buys and holds it to its maturity date. The calculation for YTM is based on the coupon rate, length of time to maturity, and market price.