Duration

A bond’s price sensitivity to interest-rate changes, expressed in years — a 5-duration bond loses roughly 5% of value per 100bps rise in rates. The first-order risk measure in fixed income.

Where Duration comes up

Stocks and Bonds, and Why the Difference Decides EverythingOne makes you an owner and one makes you a lender. Every other difference is a consequence of that.Read the guide — 9 min

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Browse the full glossary — 340 finance recruiting and technical terms, in plain English.