This study aims to know the influence of inflation, exchange rate, interest rate, JIBOR, and SIBOR to the yield to maturity of government bonds in Indonesia. The previous study showed the different results. Therefore another research needs to be done in order to test the influence of the five previously mentioned variables towards the yield to maturity of government bonds in Indonesia. The population of this study was all of the Indonesia retail bonds issued during 2006-2015 and there are any 12 series. Based on the criteria of purposive sampling technique ?obtained 1 bonds series namely 005 series with 262 samples. The study hypothesis was tested by using multiple linear regression. This study concluded that inflation have a significant negative effect on the yield to maturity while the exchange rate, interest rate, JIBOR, and SIBOR have a significant positive effect on the yield to maturity.