Bond price, duration & convexity calculator

The full price–yield toolkit.

The idea behind it

This calculator belongs to Fixed Income, where the mechanism it computes is explained step by step, with the formula, what each input means and where the simple model stops being right. Everything is computed in your browser; nothing you type is sent anywhere.

Instruments it applies to

• Government Bond — A loan to a state, and the reference price of money itself — the yardstick every other asset is measured against.
• Corporate Bond — Lending to companies for a spread: the extra yield is the price of the chance they don't pay you back.
• Covered Bond — Bank debt with a safety net: backed by the bank AND a ring-fenced pool of mortgages. Zero defaults in two centuries of Pfandbriefe.
• Municipal Bond — Lending to cities, states and school districts — with the US tax code, not the coupon, doing half the work.
• Contingent Convertible Bond — A bank bond with a self-destruct clause: it pays like debt until the bank stumbles — then it becomes equity, or nothing.
• High-Yield Bond — Bonds from borrowers the rating agencies doubt — priced somewhere between fixed income and equity, behaving like both.
• Sukuk — Not a bond — a certificate of ownership in an asset that generates rent. Economically similar, legally very different, and the difference only shows up when something goes wrong.
• Green & Sustainability-Linked Bonds — Debt with a purpose clause: either the money is earmarked for green projects, or the coupon itself bets on the issuer's climate targets.

More calculators from Fixed Income

• Yield-to-maturity solver — from price to yield by bisection.
• Tax-equivalent yield — comparing tax-exempt and taxable bonds.
• Loan & mortgage amortisation — payment, total interest, the first-payment split.
• Bond ladder planner — rungs, average yield, annual income.
• Accrued interest & dirty price — what you actually pay.
• Real return after inflation — Fisher's equation, exactly.

All calculators