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To: MCsweet who wrote (58985)1/29/2017 4:35:03 PM
From: Graham Osborn  Read Replies (1) | Respond to of 78753
 
Far from it. YTM will guarantee your return in nominal dollars if the bonds are held to maturity, but tells you nothing of the value of those dollars at term. Unless you believe nominal inflation will remain low indefinitely, inflation is the greatest risk to high-grade long bonds. Of course, there are a great many high-grade corporate issues which are not really high-grade at all, but that is a separate issue from inflation risk.