Summary
Days to Maturity shows the number of calendar days remaining before a bond reaches its stated maturity date.
At maturity, the issuer is expected to repay the bond’s principal according to its terms.
Why it matters
The remaining time to maturity affects a bond’s interest-rate exposure, return expectations, and the length of time for which the investor is exposed to the issuer’s credit risk.
How to read it
A lower figure means the bond is closer to maturity. A higher figure means repayment is further in the future.
Days to Maturity is not the same as duration, which measures the bond’s sensitivity to changes in interest rates.