Bond Yield & Price Calculator
Calculate the current yield, yield-to-maturity, and price of a bond given coupon, market rate, and time to maturity.
Inputs
Yield to maturity (YTM)
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Current yield
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Annual coupon income
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Per-period coupon
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Total dollar return at maturity
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About Bond Yield & Price Calculator
YTM vs current yield
Current yield = coupon / price (ignores capital gain/loss at maturity). YTM = annualized total return assuming you hold to maturity and reinvest coupons. YTM is the more meaningful figure.
Why prices and yields move opposite
A bond pays fixed dollar coupons. If new bonds offer higher rates, the old ones become less attractive — so their price drops to deliver an equivalent YTM. Rates up = prices down.
Duration risk
Long-dated bonds (20-30 yr) are far more rate-sensitive than short bonds. A 1% rate move can change a 30-year bond price by ~15-20%. Bond ladders mitigate this risk.