**Business / Taxes / Duration:** In simplified terms, a bond’s duration measures the effect that each 1% change in interest rates will have on the bond’s market value. Unlike the maturity date, which tells you when the issuer has promised to repay your principal, duration, which takes the bond’s interest payments into account, helps you to evaluate how volatile the bond’s price will be over time. Basically, the longer the duration — expressed in years — the more volatile the price. So a 1% change in interest rates will have less effect on the price of a bond with a duration of 2 than it will on the price of a bond with a duration of 5.

Business / Finance / Modified Duration: The ratio of Macaulay duration to (1 + y), where y = the bond yield. Modified duration is inversely related to the approximate percentage change in price for a given change in yield. MORE

Business / Finance / Mortgage Duration: A modification of standard duration to account for the impact on duration of MBS of changes in prepayment speed resulting from changes in interest rates. MORE

Science / Tides and Currents / Duration Of Flood And Duration Of Ebb: Duration of flood is the interval of time in which a tidal current is flooding, and duration of ebb is the interval in which it is ebbing, these intervals being reckoned from the middle of the interve MORE