Bonds
Coupon, face value, yield, the link between bond prices and rates, duration.
A bond is a debt obligation: the issuer borrows money and promises to pay a coupon and repay the face value on a set date.
The prices of already-issued fixed-coupon bonds move opposite to market rates: when rates rise, old bonds get cheaper.
Duration shows how sensitive a bond’s price is to changes in rates. The longer the maturity, the stronger the sensitivity. US government bonds are called Treasuries.