Why do bond prices fall when rates rise? Price a bond, watch its value slide along the yield curve, and see how duration measures that interest-rate risk.
Bond Pricing & DurationLive
price · yield · interest-rate risk
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Presets
A bond's price is the present value of its coupons and face value, discounted at the yield. Price moves inversely to yield along a convex curve. Duration measures that sensitivity — a modified duration of 8 means roughly an 8% price drop per 1% rise in yield. Educational tool, not investment advice.
Reading this result: The coupon beats the 4.0% yield, so the bond sells at a premium — about 8.2% over par — and its 7.9 modified duration is the % price drop per +1% yield.
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How it works
A bond's price is the present value of its future coupons and principal, discounted at the yield to maturity. Price and yield move inversely along a convex curve. Macaulay duration is the weighted-average time to cash flows; modified duration estimates the percentage price change per one-point yield move. Educational tool, not investment advice.
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