Generally, yield refers to the return on an investor's capital investment. In terms of debt securities, such as bonds, an investor may wish to determine the?Current Yield,?Yield to Maturity?or?Yield to Call?on a bond. For instance, the current yield on a bond is the coupon rate of interest divided by the purchase price of the bond. If a bond is sold for $1000 with a 10% coupon, it offers a 10% current yield. If that same bond were selling for $500, however, it would offer a 20% yield to an investor who bought it for $500. See also?Yield to Maturity; Yield to Call.