Essentials of Corporate Finance 9th Edition: My questions is, Chapter 6/1 talks about YTM and explains that we need to determine the value of a bond at a particular point in time, we need to know the number of periods remaining until maturity, the face value, the coupon, and the market interest rate for bonds with similar features to find YTM. Which is also called the bonds's yield for short. In addition, the yTM is the expected return for investors who buy the bond and hold it to maturity. Is the YTM a yield that will be earned if the bond is sold immediately in the market as well? In chapter 6, the book talks about German government releasing five-year bonds with a yield to maturity of negative .08 percent. It says investors were willing to put up money today to receive less money in the future. IO do not understand, why would someone purchase bonds with negative maturity and lose money? Why were these bonds even being sold when they are going cause a loss to the investors?