Bond Yield Calculator
Based on standard yield-to-maturity formula. IAC (Imposto sobre Aplicação de Capitais) of 10% on interest income (<3yr tenor) or 5% (>3yr tenor) not included. Consult Tax Guide.
How to Use
Enter the bond’s face value, coupon rate, current market price, and years to maturity. The calculator computes yield-to-maturity (YTM), current yield, and duration using Newton-Raphson iteration — the same method used by Bloomberg terminals.
Angola Bond Market Context
Angola treasury bonds (Obrigações do Tesouro Não Reajustáveis, OTNR) yield approximately 15-18% for Kwanza-denominated instruments, declining as the BNA eases monetary policy from its terminal rate of 19.5% in mid-2024 to 17.5% as of January 2026. USD-indexed bonds (OTX) offer 7-9%. Treasury Bills (Bilhetes do Tesouro, BT) at the short end yield 14-15% across 91-day to 364-day tenors. For detailed bond analysis, see the Bond Market Overview and Yield Curve.
Methodology
Yield-to-maturity is calculated using the standard present value formula with Newton-Raphson numerical optimization. Duration measures the bond’s price sensitivity to interest rate changes. All calculations assume reinvestment at the computed YTM.