How is a Bond's Price Determined?
A bond's price is a function of the quality (financial health) of the issuer; current interest rates; and the bond's term to maturity. A bond's yield is defined as its coupon divided by its current price If the price of a bond rises, the yield falls. If the price of a bond falls, the yield rises. A bond's yield to maturity is the total return anticipated on a bond if the bond is held until it maturity, and reflects the interest earned and capital gains or losses (the change in price from the bond's issue, usually $1,000).
Print Resources at NYPL
- Mergent Bond Record1999 to present. Last three months available in the Business Center.
- Moody's Bond Record1936 to 1999 (replaced by Mergent Bond Record).
- Standard & Poor's Bond GuideLast twelve months available in the SNFL business center.
Electronic Resources at NYPL
- BloombergAll current bond prices, and historical prices back through several decades, can be accessed with the Business Center's Bloomberg terminal. Use the function keys (such as MUNI, PFD, etc.), or the help box, to search.
- S&P Capital IQS&P's Capital IQ database offers data on corporate bonds, including prices. Search for a corporation, then select "Fixed Income" from the menu on the left side of the screen.
For federal government debt, select "Market Data" from the ribbon near the top of the screen, then select "government debt" under the subject heading ""Interest Rates."
External Resources
- FINRA Market Data CenterFINRA's Market Data Center offers market and investment research, including a search engine to obtain data on corporate, municipal and treasury securities.