One of the first things new investors hear about bonds is:

When interest rates rise, bond prices fall.

It sounds simple.

But then comes the obvious question:

Why?

If you own a $1,000 bond that pays you interest every year, why should its value suddenly decline just because new interest rates are higher?

The answer comes down to competition.

When new bonds begin offering better interest rates, older bonds with lower fixed payments become less attractive. To make those older bonds competitive, their market price has to fall.

The relationship is a fundamental principle of fixed-income investing. The U.S. Securities and Exchange Commission explains that market interest rates and fixed-rate bond prices generally move in opposite directions.

But there is more to the story than that one rule.

The size of the price change depends on factors such as:

• How much interest the bond pays
• How long remains until maturity
• Current market yields
• The bond's duration
• Whether the bond is fixed-rate or floating-rate
• Credit quality
• Whether you're holding the bond to maturity or selling it early

Once you understand those pieces, the relationship between bond prices and interest rates becomes much easier to follow.

First, What Is a Bond?

A bond is essentially a loan.

When you buy a bond, you're lending money to an issuer.

The issuer might be:

• A government
• A corporation
• A municipality
• Another organization

In return, the bond generally promises interest payments and repayment of the bond's face value at maturity, subject to the terms and risks of the security.

For example, imagine you buy a bond with:

Face value: $1,000

Coupon rate: 3%

Maturity: 10 years

A 3% coupon on $1,000 means the bond pays:

$30 per year

If you hold the bond according to its terms until maturity, you generally receive the scheduled interest payments and the $1,000 principal at maturity, assuming the issuer meets its obligations.

So where does the price movement come from?

It comes from the secondary market.

The Bond You Own Doesn't Change Its Coupon

This is the key idea.

Suppose you buy a fixed-rate bond paying 3%.

A few months later, newly issued bonds with similar characteristics are paying 5%.

Your old bond doesn't suddenly start paying 5%.

It remains a 3% bond.

That's what creates the problem.

Imagine you're trying to sell your old bond.

A buyer has two choices.

Your bond

Pays 3%.

A new comparable bond

Pays 5%.

Why would the buyer pay the same $1,000 for your 3% bond?

They probably wouldn't.

For your bond to become competitive, its price has to fall.

That's the basic mechanism.

The SEC illustrates the same relationship using a fixed-rate Treasury bond: when market interest rates rise from 3% to 4%, the price of the existing 3% bond falls, while its yield to maturity rises.

A Simple Example

Let's make this as straightforward as possible.

Imagine you own:

$1,000 bond

3% annual coupon

$30 annual interest

Now imagine that similar new bonds are being issued at:

5%

A new investor can get approximately:

$50 of annual interest for every $1,000 invested

Your bond only pays:

$30

So your bond needs to become cheaper.

If the price fell to roughly $600, its $30 annual coupon would represent a 5% current yield:

$30 ÷ $600 = 5%

That's a simplified illustration rather than a complete bond valuation because a real bond also has a maturity date and repayment of principal.

But the logic is exactly what matters:

The lower price helps compensate the buyer for the bond's lower fixed coupon.

The Most Important Distinction: Coupon vs. Yield

This is where many beginners get confused.

Coupon rate

The coupon rate is the interest rate specified by the bond.

If your $1,000 bond has a 3% coupon:

You receive $30 per year, assuming the bond pays annual interest for simplicity.

That coupon does not change simply because market rates change.

Yield

Yield reflects the return available at the bond's current market price.

If the bond price falls, its yield generally rises.

If the bond price rises, its yield generally falls.

Investor.gov explains this inverse relationship directly: when market rates rise, fixed-rate bond prices tend to fall, and the yield to maturity rises as the price falls.

This is why financial headlines can say:

"Treasury yields rose."

while simultaneously saying:

"Treasury prices fell."

Those statements are usually describing the same market movement from different perspectives.

A Real SEC Example

The SEC gives a useful example.

Imagine a Treasury bond with:

$1,000 face value

3% coupon

10 years remaining initially

If market interest rates rise from 3% to 4%, the SEC's example shows the bond's price falling to approximately $925 after one year, with its yield to maturity rising to 4%.

Nothing mysterious happened to the bond.

The bond still has:

$1,000 face value

and

3% coupon payments.

What changed was the price investors were willing to pay for those future payments.

That's the entire concept in action.

Why Does the Price Have to Fall?

Now we can get into the mathematics.

The value of a bond today is essentially the present value of the money the investor expects to receive in the future.

That includes:

Coupon payments

plus

Principal repayment

Those future payments are discounted using market yields.

A simplified bond-pricing formula looks like this:

Bond Price = Present Value of Future Coupon Payments + Present Value of Principal

When the market discount rate rises, future payments are worth less in today's dollars.

Therefore:

Higher market yield → lower present value → lower bond price

When the market discount rate falls:

Lower market yield → higher present value → higher bond price

This is the mathematical explanation behind the market relationship.

Why Longer-Term Bonds Usually Move More

Not every bond reacts by the same amount.

This is where maturity and duration become important.

Imagine you have two otherwise similar bonds.

Bond A

Matures in one year.

Bond B

Matures in 20 years.

If market interest rates suddenly rise, Bond B will generally experience a larger price change.

Why?

Because more of Bond B's value comes from payments that occur far into the future.

Those future payments are more sensitive to changes in the discount rate.

The SEC notes that longer-maturity bonds generally have greater interest-rate risk than otherwise similar shorter-maturity bonds.

This is why long-term Treasury bonds can be much more volatile than short-term Treasury bills.

What Is Duration?

Duration is one of the most useful concepts in bond investing.

At a basic level, duration measures how sensitive a bond's price is to changes in interest rates.

A commonly used approximation is:

A 1 percentage-point increase in yields can produce roughly a duration-sized percentage decline in price.

For example, a bond or bond portfolio with a duration of approximately 7 years might lose roughly 7% if yields rise by 1 percentage point, all else equal.

That's only an approximation.

Actual price movements depend on the bond's characteristics and the size of the rate change.

But duration gives investors a useful way to estimate interest-rate sensitivity.

SEC materials similarly describe duration as a measure of a fixed-income investment's sensitivity to changes in interest rates.

Why Low-Coupon Bonds Can Be More Sensitive

Duration isn't determined by maturity alone.

Coupon size matters too.

Imagine two bonds with the same maturity:

Bond A: 2% coupon

Bond B: 6% coupon

The lower-coupon bond generally has more interest-rate sensitivity.

Why?

Because a greater portion of its value comes from the principal payment arriving at maturity rather than from larger interim coupon payments.

The SEC specifically notes that, when other characteristics are equal, lower-coupon bonds generally have greater interest-rate risk than comparable higher-coupon bonds.

Why Bond Funds Can Fall Even If They Own Many Bonds

This is important for investors who own bond ETFs or mutual funds rather than individual bonds.

Suppose you own a bond ETF.

You don't own one specific bond.

You own a portfolio of bonds.

If market yields rise, many of those bonds can decline in market value.

The ETF's net asset value can therefore fall.

That does not mean the underlying companies or governments necessarily stopped paying their interest.

It simply means the market value of the portfolio has changed.

Investor.gov notes that interest-rate risk applies broadly to fixed-income investments, including U.S. Treasury securities.

Does a Bondholder Actually Lose Money When Rates Rise?

This requires an important distinction.

If you sell the bond before maturity

You can realize a loss.

Suppose you bought a bond for:

$1,000

After market rates rise, its market value falls to:

$900

If you sell it for $900, you have realized a $100 capital loss, excluding interest received and other costs.

If you hold the bond until maturity

If the issuer doesn't default and the bond terms call for $1,000 repayment, you generally receive the face value at maturity.

The market price can fluctuate along the way without changing the contractual principal repayment at maturity. Investor.gov specifically notes this distinction: investors who hold bonds to maturity generally receive the face value, while investors selling before maturity may receive more or less than face value.

This is why a bond can be down 10% on a brokerage screen without necessarily meaning the investor will lose 10% if the bond is held to maturity and the issuer fulfills its obligations.

Of course, that assumes the issuer pays as promised and ignores inflation, taxes, reinvestment, and opportunity costs.

Holding to Maturity Doesn't Make Every Risk Disappear

This is another important nuance.

People sometimes say:

"There is no risk if I hold my bond to maturity."

That's not correct.

Holding to maturity can reduce or eliminate the need to realize an interest-rate-driven market-price loss, assuming the issuer pays as promised.

But other risks remain.

Credit risk

The issuer could fail to make payments.

Inflation risk

The money received in the future may buy less than expected.

Reinvestment risk

When you receive coupon payments, you may have to reinvest them at lower rates.

Opportunity cost

Your money may be locked into a lower-yielding investment while other opportunities become more attractive.

Investor.gov identifies credit, interest-rate, inflation and liquidity risks among the major risks associated with bonds.

What Happens When Interest Rates Fall?

The relationship works in reverse.

Imagine you own:

3% bond

Then market rates fall to:

2%

Suddenly, your existing 3% bond looks more attractive.

Why would someone buy a new bond paying 2% when your bond pays 3%?

They may be willing to pay more than your bond's original price.

That pushes the bond's market value upward.

Again:

Rates fall → existing fixed-rate bond prices rise

The SEC provides the same type of example in which a 3% bond becomes more valuable after market rates fall to 2%.

Why Yield Falls When Bond Price Rises

This can seem backwards at first.

Suppose a bond pays:

$30 per year

At a price of:

$1,000

The simple current yield is:

3%

Now imagine someone is willing to pay:

$1,200

for that same bond.

The coupon is still $30.

But:

$30 ÷ $1,200 = 2.5%

The buyer is receiving the same dollar coupon but paying more for it.

So the yield falls.

This is why:

Bond price ↑ → yield ↓

and:

Bond price ↓ → yield ↑

The contractual coupon hasn't necessarily changed.

The market price has.

Why the Relationship Is About Opportunity Cost

Here's another way to understand it without formulas.

Think of two restaurants.

One serves a meal for $30.

Another opens next door offering a similar meal for $50.

The first restaurant doesn't have to change its recipe.

Its price simply becomes less attractive relative to the alternative.

Bonds work similarly.

Your old bond has a fixed set of payments.

When market rates change, investors compare those payments with what they can receive elsewhere.

The price adjusts until the old bond becomes competitive again.

That is essentially the bond market's version of opportunity cost.

Why Credit Quality Matters Too

Our discussion so far has assumed that two bonds are otherwise similar.

Real markets are more complicated.

Imagine:

U.S. Treasury bond: 5%

and

Risky corporate bond: 5%

They're not necessarily equivalent.

The corporate bond carries greater credit risk.

Investors may therefore require a higher yield to own it.

This means bond prices are influenced by more than interest rates.

They also respond to:

• Credit risk
• Liquidity
• Inflation expectations
• Market risk
• Supply and demand
• Maturity
• Optionality

The SEC notes that bonds face both interest-rate risk and credit-quality risk, among others.

Treasury Bonds Are Not Immune to Interest-Rate Risk

This is an especially common misconception.

People sometimes assume:

"Treasuries are safe, so their prices can't fall."

That's wrong.

U.S. Treasury securities have relatively low credit/default risk compared with many other bonds, but their market prices can absolutely fall when interest rates rise.

The SEC explicitly states that even U.S. government-guaranteed bonds can lose market value if sold before maturity because interest rates change.

There are therefore two separate questions:

Will the issuer repay you?

and

What is the bond worth if you want to sell it today?

Those aren't the same question.

Why the 10-Year Treasury Gets So Much Attention

The 10-year U.S. Treasury yield is one of the most widely followed interest rates in financial markets.

That's because it serves as an important reference point for a wide range of financial assets.

Changes in the 10-year yield can influence:

• Mortgage rates
• Corporate borrowing costs
• Stock valuations
• Bond prices
• Investment decisions
• Financial conditions

The U.S. Treasury publishes daily yield information across multiple maturities, including the 10-year Treasury. (home.treasury.gov)

The 10-year yield isn't controlled directly by the Federal Reserve.

It is determined in the market and reflects expectations about future short-term rates, inflation, growth, and other factors.

Why the Federal Reserve Matters

The Federal Reserve influences short-term interest rates through monetary policy.

When investors expect the Fed to raise rates, short-term yields can move higher.

Longer-term yields can also respond, depending on what markets expect will happen to:

Inflation

Growth

Future monetary policy

Government borrowing

Risk

That means bond prices can begin moving before the Fed actually changes its policy rate.

Markets are forward-looking.

Investors aren't simply asking:

"What is the interest rate today?"

They're also asking:

"Where will interest rates be in the future?"

Why Inflation Matters to Bond Prices

Imagine you own a bond paying a fixed 4%.

Now inflation rises to 6%.

Your bond still pays 4%.

But the purchasing power of those payments has become less attractive.

Investors may therefore demand higher yields on newly issued bonds.

If market yields rise, existing fixed-rate bond prices generally fall.

This creates another chain:

Inflation expectations ↑

↓

Rate expectations ↑

↓

Bond yields ↑

↓

Existing bond prices ↓

This is one reason inflation and bond markets are so closely connected.

Investor.gov also identifies inflation risk as a major bond-investing risk because inflation reduces the purchasing power of fixed interest and principal payments.

Why the Bond Market Sometimes Moves Before the Fed

Suppose investors believe inflation is about to accelerate.

They may sell longer-term bonds.

Bond prices fall.

Yields rise.

This can happen before the Federal Reserve changes its policy rate.

Why?

Because investors are pricing in what they expect the Fed and the economy to do next.

Similarly, if markets believe an economic slowdown is coming, investors may buy longer-term Treasuries in anticipation of future rate cuts.

Bond prices can rise before the central bank actually cuts rates.

Again:

Bond markets are forward-looking.

The Yield Curve Fits Into This

This is where our previous Margin Stream article on the yield curve connects.

The yield curve shows Treasury yields across different maturities.

For example:

3-month

2-year

5-year

10-year

30-year

If short-term and long-term yields move differently, the shape of the curve changes.

A curve can:

Steepen

Flatten

or

Invert

Those movements contain information about market expectations for interest rates, inflation, and economic growth.

So if you understand why bond prices move when rates change, the yield curve becomes much easier to understand.

Why Short-Term Bonds Can Be Less Sensitive

Short-term bonds generally have less interest-rate sensitivity than longer-term bonds.

Imagine two Treasury securities:

6-month Treasury

and

30-year Treasury

If market rates rise, both can respond.

But the longer-term security typically experiences a much larger price change.

That's because its cash flows extend much farther into the future.

This is one reason investors use short-duration bonds when they want to reduce interest-rate exposure.

Why Long-Term Bonds Can Be Attractive When Rates Fall

The same sensitivity that creates larger losses when rates rise can create larger gains when rates fall.

Suppose a long-duration bond has substantial interest-rate sensitivity.

If market yields fall sharply, the bond's price can rise significantly.

That can make long-duration bonds attractive to investors who believe rates are likely to decline.

But the opposite is also true.

If yields rise instead, the same sensitivity can produce substantial losses.

This is why duration is often thought of as a double-edged sword.

More duration means greater sensitivity in both directions.

What Happens to Bond ETFs When Rates Rise?

Suppose you own a bond ETF with an average duration of seven years.

If yields rise by 1 percentage point, the ETF could experience a price decline in the neighborhood of 7%, before accounting for other effects.

That's an approximation, not a guaranteed result.

The fund's actual response depends on its holdings, yield changes across maturities, convexity, flows, fees and other factors.

But duration gives you a rough way to understand why a bond fund can fall even though it owns hundreds or thousands of individual securities.

What Is Convexity?

For investors who want to go one step deeper, there's another concept called convexity.

Duration provides a first approximation of how bond prices respond to interest-rate changes.

But the relationship isn't perfectly linear.

As yields change, the sensitivity itself changes.

Convexity helps capture that curvature in the bond-price relationship.

You don't need advanced mathematics to understand the main idea:

Duration gives a useful estimate. Convexity helps explain why the actual price movement can differ from that estimate, especially for larger rate changes.

For most individual investors, duration is the more immediately useful concept.

What About Floating-Rate Bonds?

The classic inverse relationship applies most directly to fixed-rate bonds.

Floating-rate securities have interest payments that adjust according to a reference rate or index.

Because their coupons can reset, their prices may be less sensitive to changes in market rates than otherwise similar fixed-rate bonds.

That doesn't mean they are risk-free.

They can still have:

• Credit risk
• Liquidity risk
• Spread risk
• Interest-rate exposure through their reference rate
• Other structural risks

But the traditional:

Rates up → fixed bond prices down

relationship is most straightforward for fixed-rate securities.

How Bond Prices Affect Investors

It depends on why you're owning the bond.

An income-oriented investor

May care primarily about receiving scheduled interest and principal.

A trading-oriented investor

May care much more about daily price changes.

A bond-fund investor

May experience continuous market-value changes because the fund constantly holds and replaces securities.

A portfolio manager

May use duration deliberately to manage interest-rate exposure.

This is why two investors can own the same bond and have very different reactions to a price decline.

A Bond Price Calculator in Your Head

You don't need to perform complicated calculations every time.

A useful mental model is:

Step 1

Ask whether market yields are rising or falling.

Step 2

Look at the bond's maturity.

Step 3

Think about its duration.

Step 4

Compare the bond's coupon with current market yields.

Step 5

Ask whether you're selling before maturity or holding it through maturity.

That will usually tell you the direction and rough sensitivity of the price.

A Real-World Scenario

Imagine you bought a:

10-year bond

with:

4% coupon

Then inflation rises.

Markets begin expecting tighter monetary policy.

New 10-year bonds start yielding:

5%

Your original bond still pays:

4%

Investors now have little reason to pay $1,000 for your bond when they can buy a comparable new bond offering 5%.

The market price of your bond falls.

Eventually, at its lower price, its effective yield becomes competitive with the new market rate.

That's the adjustment mechanism.

Nothing has "gone wrong" with the bond itself.

The market is simply repricing it.

What If Rates Rise to 6%?

The same principle continues.

Your 4% bond becomes even less attractive relative to new 6% bonds.

Its market price would need to fall further to compensate a buyer.

That's why bond prices and interest rates move inversely.

The size of the decline depends heavily on duration and the specific terms of the bond.

What If Rates Fall to 3%?

Now your 4% bond becomes attractive.

New comparable bonds pay only 3%.

Investors may be willing to pay more for your 4% bond.

Its market price rises.

The yield to a new buyer falls because they are paying a premium for those higher coupon payments.

Again:

Market yields ↓ → existing fixed-rate bond prices ↑

Why This Matters in a 60/40 Portfolio

Many traditional investment portfolios contain both stocks and bonds.

The idea is partly diversification.

But investors sometimes assume:

"Bonds always go up when stocks fall."

That's not necessarily true.

The relationship can depend on the economic environment.

If stocks fall because investors expect recession and inflation to decline, government bonds may benefit as interest rates fall.

But if stocks and bonds are both being pressured by a large inflation shock, both can decline at the same time.

Understanding interest-rate risk therefore helps investors understand why bonds don't always behave exactly as expected.

The Connection Between Bonds and Stocks

Interest rates affect both markets, but through different channels.

For bonds:

Rates rise → existing fixed-rate bond prices fall

For stocks:

Rates rise → financing costs can increase and valuations can be pressured

This is one reason a major change in interest-rate expectations can move both stocks and bonds simultaneously.

The difference is that bond pricing has a particularly direct mathematical relationship with market yields.

What Investors Should Watch

If you're trying to understand where bond prices might move, pay attention to:

Federal Reserve policy

What is the central bank doing?

Inflation

Are price pressures rising or falling?

Economic growth

Is the economy accelerating or slowing?

Treasury yields

Especially the 2-year and 10-year rates.

Yield curve

Are short- and long-term yields moving differently?

Credit spreads

Are investors becoming more concerned about corporate borrowers?

Duration

How sensitive is your bond or bond fund?

These variables together are much more useful than simply watching the federal funds rate.

Five Common Bond Mistakes

Mistake 1: Thinking bonds can't lose value

They can.

Even U.S. Treasuries can fall in market value when rates rise.

Mistake 2: Confusing coupon with yield

The coupon is a contractual feature.

Yield reflects market price and other terms.

Mistake 3: Ignoring duration

A 30-year bond can react very differently from a 6-month Treasury.

Mistake 4: Assuming a rate cut guarantees bond gains

The reason rates are falling matters.

If rates fall because of severe economic stress, the bond market can behave differently across maturities and credit categories.

Mistake 5: Thinking holding to maturity eliminates every risk

Credit, inflation, reinvestment and opportunity-cost risks remain.

The Bigger Picture

The relationship between interest rates and bond prices isn't an arbitrary rule.

It is the result of simple market economics.

A bond promises a particular set of future payments.

When market interest rates change, the attractiveness of those future payments changes.

The market therefore adjusts the bond's price.

If new bonds offer higher yields, older lower-yielding bonds generally have to become cheaper.

If new bonds offer lower yields, older higher-yielding bonds generally become more valuable.

The process happens continuously in actively traded bond markets.

That is why bond prices can move even when the issuer hasn't changed anything about the bond itself.

The coupon can remain exactly the same.

The maturity date can remain exactly the same.

The issuer can remain perfectly capable of paying.

And yet the bond's market price can still change significantly.

The reason is simply that the opportunity cost of owning it has changed.

The Bottom Line

The relationship can be reduced to one simple principle:

When market interest rates rise, existing fixed-rate bond prices generally fall. When market interest rates fall, existing fixed-rate bond prices generally rise.

The reason is competition.

Suppose you own a bond paying 3%.

If new comparable bonds begin paying 5%, your bond becomes less attractive.

To make someone willing to buy it, the price has to fall until its effective return becomes competitive.

The opposite happens when market rates decline.

But not every bond moves by the same amount.

Longer maturities generally mean greater interest-rate sensitivity.

Lower coupons generally mean greater interest-rate sensitivity.

Higher duration means greater price sensitivity to changes in yields.

And holding a bond until maturity can reduce the importance of interim market-price fluctuations, provided the issuer fulfills its obligations—but it doesn't eliminate credit, inflation, reinvestment or other risks.

Once this relationship becomes intuitive, a large part of the bond market starts making sense.

You can understand why:

Treasury prices fall when yields rise.

Long-duration bond funds can be volatile.

Falling inflation can support some government bonds.

The Federal Reserve can influence bond markets without directly setting every Treasury yield.

And why investors pay so much attention to the yield curve.

The bond market may look complicated from the outside.

But underneath it is a fairly simple idea:

Investors constantly compare the return they can get from old bonds with the return available from new bonds.

When that comparison changes, prices change.

Frequently Asked Questions

Why do bond prices fall when interest rates rise?

Because newly issued bonds become more attractive when they offer higher interest rates. Existing fixed-rate bonds with lower coupons must generally fall in price to provide buyers with a competitive yield.

Do bond prices always fall when rates rise?

The inverse relationship is strongest for fixed-rate bonds, but individual bonds can be affected by credit quality, liquidity, maturity, embedded options and other factors.

Why do bond yields rise when bond prices fall?

A bond's contractual coupon generally remains unchanged. When the market price falls, the same future payments represent a higher return relative to the amount paid by a new buyer.

Why are long-term bonds more sensitive to interest rates?

Longer-term bonds have more cash flows occurring farther into the future, making their present value more sensitive to changes in the discount rate. Longer maturity generally means greater interest-rate risk.

Can Treasury bonds lose money?

Yes, if they are sold before maturity and market conditions have caused their prices to fall. U.S. government backing does not guarantee the market price of a Treasury security before maturity.

Can you lose money on a bond if you hold it to maturity?

If the issuer meets its obligations, a bondholder generally receives the stated principal at maturity. However, inflation, reinvestment risk, opportunity cost and other risks remain.

What is duration?

Duration is a measure of a fixed-income investment's sensitivity to interest-rate changes. A longer-duration investment generally experiences larger price changes when yields move.

What happens to bonds when interest rates fall?

Existing fixed-rate bonds generally become more valuable because their coupons are more attractive relative to newly issued bonds with lower rates. Their market prices generally rise.

Are bond funds affected by interest rates?

Yes. Bond funds and ETFs hold portfolios of fixed-income securities whose market values change when interest rates move. The effect depends partly on the portfolio's duration and the types of bonds it owns.

Sources

U.S. Securities and Exchange Commission / Investor.gov — Fixed Income Investments: When Interest Rates Go Up, Prices of Fixed-Rate Bonds Fall

Primary educational source explaining the inverse relationship between market interest rates and fixed-rate bond prices, including examples involving Treasury bonds, coupon rates, and maturity.

Investor.gov — What Are Corporate Bonds?

Background on bond pricing, coupon rates, yield to maturity, interest-rate risk, inflation risk and maturity.

Investor.gov — Bonds FAQs

Explanation of interest-rate, credit, inflation and other risks associated with bonds and what happens when investors hold or sell bonds before maturity.

Investor.gov — Bonds: Selling Before Maturity

Explanation of why a bond may trade below or above face value when sold before maturity.

U.S. Treasury — Interest Rate Statistics

Official Treasury yield-curve data across different maturities.

SEC Filing — Fixed-Income Interest-Rate Risk and Duration

Explanation of duration as a measure of sensitivity to changes in interest rates.

Disclaimer

The information published by The Margin Stream is provided for general informational and educational purposes only. Nothing in this article constitutes personalized financial, investment, trading, tax, legal, or other professional advice. Bond prices, yields and other financial assets can fluctuate, and investors can lose money. Historical relationships do not guarantee future results.

Muhammad Akif

Founder & Editor

The Margin Stream