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Income from an investment as a percentage of its price.
Yield is the income an investment pays, shown as a yearly percentage of its price. For a stock, it's the dividend yield; for a bond, it's the interest you'd earn based on today's price.
A stock at $50 paying $2 of dividends a year has a 4% yield.
A very high yield can be a warning sign that the price has collapsed or that the payment may be cut. Government bond yields are also a benchmark for the whole market.