Calculate bond price, yield to maturity (YTM), and duration. Understand fixed income investments with detailed payment schedules.
Bond Details
Enter bond parameters to calculate price or yield
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Bond Price
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Current Yield
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Bond Status
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Duration (Macaulay)
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Total Return
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Period Coupon
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Face Value
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Coupon Rate
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YTM
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Years to Maturity
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Bond Price
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Coupon per Period
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Total Coupon Income
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Capital Gain/Loss
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Macaulay Duration
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FAQ
What is a bond?
A bond is a fixed income debt instrument. The issuer borrows capital from investors and pays periodic coupon interest, then returns the face value at maturity. Bonds are issued by governments, municipalities, and corporations.
What is Yield to Maturity (YTM)?
YTM is the total return an investor expects to earn if they hold the bond until maturity, expressed as an annual rate. It accounts for coupon payments, the current price, face value, and time to maturity.
Why do bond prices fall when interest rates rise?
New bonds offer higher yields, making old lower-coupon bonds less attractive. Investors discount the old bond's price until its effective yield matches the market. This inverse relationship is fundamental to fixed income.
What is Macaulay Duration?
Duration measures the weighted-average time until a bond's cash flows are received. Higher duration = more interest rate sensitivity. A 10-year duration bond loses ~10% in price for each 1% rise in interest rates.