Fixed Income calculators

51 live fixed income calculators inside Investing & Markets on The Online Calculator 24. Every engine shows its formula, the worked steps behind the default figures, and the standard or dataset the method comes from.

Live Fixed Income tools

• Bond Valuation, Clean/Dirty Price & Convexity Curve Calculator — Calculate bond fair present value, clean and dirty price with accrued interest, Macaulay duration, and plot the non-linear price-yield convexity curve.
• Bond Yield Calculator — The generic income-plus-par-convergence number for holding a fixed-coupon bond to maturity. Same engine as the dedicated YTM tool, framed for the casual buyer who just wants to know what this bond yields.
• Yield to Maturity Calculator — The single discount rate that equates a bond's price to the present value of every promised cash flow — the internal rate of return of holding to maturity, assuming coupons are reinvested at that same rate.
• Yield to Call Calculator — Callable corporate and mortgage/agency bonds can be redeemed early — usually when rates fall. YTC computes the IRR assuming the bond is called at the earliest (or a specified) date at the call price, which is the yield the market actually quotes for premium bonds.
• Yield to Worst Calculator — Income relative to price — the yield to worst number investors quote first — plus the expense-adjusted net figure that actually matters.
• Current Yield Calculator — The simplest bond income stat: annual coupon divided by today's price. Handy for scanning income, and nothing else — it ignores when the bond matures and what happens to your principal.
• Running Yield Calculator — Income relative to price — the running yield number investors quote first — plus the expense-adjusted net figure that actually matters.
• Flat Price Calculator — The full price tag for flat price: variable spend, one-off costs and an explicit contingency band, with the all-in per-unit figure quotes obscure.
• Dirty Price Calculator — The real money that changes hands. Quotations are clean for comparability across coupons, but settlement is dirty — accrued interest goes to the seller.
• Accrued Interest Calculator — The coupon the seller has earned since the last payment date. Bond quotes are "clean"; the invoice price is "dirty" — clean plus accrued. Misreading the difference is a classic first-trade mistake.
• Bond Duration Calculator — The cash-flow-weighted average time until you get paid — and, scaled by (1+y), the percentage a bond's price moves for a one-point change in yield. Duration is how bond investors think about risk; maturity is just one input.
• Modified Duration Calculator — Macaulay duration converted into exactly what a desk needs: the percentage price change per unit yield change. Every bond book's risk report is modified duration multiplied by positions, full stop.
• Dollar Duration Calculator — The desk version of duration: dollars lost per basis point of yield. Risk limits in bond desks and banks are written in DV01 because it adds straight across books regardless of what instrument produced it.
• Convexity Calculator — The bottom line for convexity and the margin it represents — the two numbers every owner checks before anything else.
• Key Rate Duration Calculator — The bottom line for key rate duration and the margin it represents — the two numbers every owner checks before anything else.
• Effective Duration Calculator — The bottom line for effective duration and the margin it represents — the two numbers every owner checks before anything else.
• Spread Duration Calculator — The bottom line for spread duration and the margin it represents — the two numbers every owner checks before anything else.
• Option-Adjusted Spread Calculator — The bottom line for option-adjusted spread and the margin it represents — the two numbers every owner checks before anything else.
• Zero-Volatility Spread Calculator — The bottom line for zero-volatility spread and the margin it represents — the two numbers every owner checks before anything else.
• Discount Margin Calculator — The profit slice of discount margin stated both ways people argue about — margin of price and markup on cost — plus the price a target margin demands.
• Asset Swap Spread Calculator — The bottom line for asset swap spread and the margin it represents — the two numbers every owner checks before anything else.
• Credit Default Swap Calculator — The bottom line for credit default swap and the margin it represents — the two numbers every owner checks before anything else.
• CDS Spread Calculator — The bottom line for cds spread and the margin it represents — the two numbers every owner checks before anything else.
• Recovery Rate Calculator — The mirror of LGD and the single most time-sensitive number in credit work: what fraction of the claim you get back. Because bankruptcies are slow, nominal and present-value recoveries diverge more than most models allow.
• Probability of Default Calculator — Estimate a firm's distance-to-default and probability of default using the Merton structural model, based on asset value, debt, volatility and time horizon.
• Expected Loss Calculator — The Basel and IFRS 9 workhorse: what a credit portfolio statistically loses per year, as the product of who might fail (PD), how much the failure costs (LGD) and how much is at stake (EAD). Pricing must clear EL; capital exists for everything above it.
• Loss Given Default Calculator — Severity, not probability: when the borrower fails, what fraction of exposure does not come back? Collateral, seniority and the length of the workout decide it — in that order.
• Bond Equivalent Yield Calculator — T-bills and commercial paper are quoted as discount rates on face over a 360-day year — flattering nobody. BEY restates the instrument as a coupon-bond-style yield on a 365-day basis so you can compare it to bonds on the same screen.
• Bank Discount Yield Calculator — Income relative to price — the bank discount yield number investors quote first — plus the expense-adjusted net figure that actually matters.
• Money Market Yield Calculator — Same discount instrument as BEY, restated on a 360-day invested-funds basis — how CDs and bank money-market desks quote so deposit rates are comparable.
• True Yield Calculator — Income relative to price — the true yield number investors quote first — plus the expense-adjusted net figure that actually matters.
• After-Tax Yield Calculator — Yields you can actually spend. Interest is ordinary income at your marginal rate; qualified dividends drop to preferential rates; munis are federal-exempt (and often in-state exempt); Treasuries dodge only the state bite.
• Tax-Equivalent Yield Calculator — The classic bracket-arbitrage calculation: what a Treasury or corporate would have to pay to match a muni's after-tax income. At high brackets munis routinely win by 20–40 basis points of pretax yield.
• Municipal Bond Yield Calculator — Munis carry a coupon and a tax story. This gives the yield to maturity and immediately restates it as taxable-equivalent under common brackets so the comparison to corporates is honest.
• Taxable Equivalent Yield Calculator — Income relative to price — the taxable equivalent yield number investors quote first — plus the expense-adjusted net figure that actually matters.
• Treasury Yield Calculator — Income relative to price — the treasury yield number investors quote first — plus the expense-adjusted net figure that actually matters.
• Agency Yield Calculator — Income relative to price — the agency yield number investors quote first — plus the expense-adjusted net figure that actually matters.
• Corporate Yield Calculator — Income relative to price — the corporate yield number investors quote first — plus the expense-adjusted net figure that actually matters.
• High Yield Bond Calculator — Income relative to price — the high yield bond number investors quote first — plus the expense-adjusted net figure that actually matters.
• Emerging Market Bond Calculator — The bottom line for emerging market bond and the margin it represents — the two numbers every owner checks before anything else.
• Convertible Bond Value Calculator — The bottom line for convertible bond value and the margin it represents — the two numbers every owner checks before anything else.
• Bond Ladder Calculator — The bottom line for bond ladder and the margin it represents — the two numbers every owner checks before anything else.
• Barbell Strategy Calculator — The bottom line for barbell strategy and the margin it represents — the two numbers every owner checks before anything else.
• Bullet Strategy Calculator — The bottom line for bullet strategy and the margin it represents — the two numbers every owner checks before anything else.
• Immunization Strategy Calculator — The bottom line for immunization strategy and the margin it represents — the two numbers every owner checks before anything else.
• Cash Flow Matching Calculator — The bottom line for cash flow matching and the margin it represents — the two numbers every owner checks before anything else.
• Bond Swap Analysis Calculator — The bottom line for bond swap analysis and the margin it represents — the two numbers every owner checks before anything else.
• Callable Bond Calculator — The bottom line for callable bond and the margin it represents — the two numbers every owner checks before anything else.
• Putable Bond Calculator — The bottom line for putable bond and the margin it represents — the two numbers every owner checks before anything else.
• Sinking Fund Bond Calculator — The bottom line for sinking fund bond and the margin it represents — the two numbers every owner checks before anything else.
• Step-Up Bond Calculator — The bottom line for step-up bond and the margin it represents — the two numbers every owner checks before anything else.

Reading a Fixed Income result

A number on its own is the weakest thing a calculator can give you, so these tools pair each output with the comparison that gives it meaning: the gap to a target, the band the value falls in, or what a realistic swing in one input does to the answer. When a figure looks wrong, that is usually the fastest place to check — re-run it with one input moved and see whether the change lines up with the formula printed above the result.

Related sub-topics in Investing & Markets

• Stocks & Equities — 49 live tools.
• Portfolio Management — 51 live tools.
• Options & Derivatives — 50 live tools.
• Alternative Investments — 49 live tools.