How a bond's price responds to interest rates

Set the years left until maturity and move the rate slider. You'll see the new price, the dollar gain or loss, and how the same rate move hits shorter and longer bonds.

Assumes a plain fixed-rate bond paying semiannual coupons, with the rate change applied as an immediate, parallel shift in yield. Prices are clean prices with no accrued interest. For illustration only; actual bond prices also reflect credit spreads, call features, liquidity, and trading costs.