Inputs
Results
Price vs. Yield Curve
How to use
Price from Yield: enter the bond's terms and the market yield you observe, and the tool discounts every future coupon and the face value back to today to give the fair (clean) price.
Yield from Price: enter the price you see quoted and the tool solves for the yield to maturity (YTM) — the single discount rate that makes the present value of all cash flows equal that price — using bisection, and shows you the convergence.
The key relationship: bond prices and yields move in opposite directions. When market yields rise, existing bonds with fixed coupons become less attractive, so their prices fall — and vice versa. Duration tells you how sensitive the price is: a modified duration of 7 years means a 1 percentage-point rise in yield lowers the price by roughly 7%.