Bond Quotes: How to read and understand them

A bond quote is the price at which a bond is trading. It’s expressed as a percentage of par value. A bond quote above 100 means the bond is trading above par. We’re glad that you’re up to speed on bond indices. Next up: bond quotes!

What is a Bond Quote?

A bond quote is the price at which a bond is trading. It’s usually expressed as a percentage of par value. The price that someone is willing to pay for the bond is given in relation to 100 (or par value). A bond quote above that means that the bond is trading above par and vice versa for a bond quote below 100.

Bond Quote Tools

Getting any information about a bond issue is simply harder than getting that of a stock or a mutual fund. There just isn’t a lot of individual investor demand for the information, so most bond info is available only through higher-level tools. These tools are not always accessible to the average investor. This makes finding bond quotes tricky for the average Joe.

The first place to look for bond information is your brokerage account’s firm. They’ll have research tools like bond quotes, and will usually give you access to them.

There are also free tools available that provide some basic information, like the Yahoo! Bond Center.

How to Read Bond Quotes

Bond quotes are seen either as a percentage of the bond’s face value or as a dollar value. Corporate bonds are quoted in 1/8th increments while government bonds are typically quoted in 1/32nds. Municipal bonds may be quoted on a dollar basis or on a yield-to-maturity basis.

There are three different ways that you will see bond prices quoted:

1. As a percentage of face value

Bonds are generally quoted as percentage of face value ($1,000).  For example, a bond selling at 950 would be selling at 95% of its face value – and would therefore be quoted at 95.

2. By their yield

“The 2 year US Treasury jumped 10 basis to 2.12% yield.”

What the heck does that mean?

So “2 year Treasury” describes the bond being traded.

“Jumped 10 Basis Points” with bonds, price and yield have an inverse relationship, so an increase in yield means the price of the bond dropped.

“2.15% yield” – The 2.15% is the yield to maturity based on the current market price. By talking about yield instead of price, it’s easier to compare different bonds.

3. As a spread against treasuries

Think of it as the difference between the bond’s yield and the yield of a treasury with a comparable maturity. If a trader is offering a corporate bond at  “+155” and the yield of the comparable treasury is 2.00%, the yield on the corporate bond would be 3.55%.

The Best U.S. Brokerages as of June 30, 2025

Ranking of Top U.S. Stock Brokerages Based on Fees, Features, and Sign-Up Bonuses

We are experienced users of dozens of stock trading platforms. We stay up to date on these platforms' service offerings, subscription fees, trade commissions, and welcome bonuses. The brokerages listed below are for U.S.-based investors, and are ranked in order of overall value received after taking advantage of their sign-up and/or referral offers.

Rank Brokerage Fees Features Sign-Up Bonus Read Our Review
1. robinhood-review Robinhood $0 ✅ U.S. stocks, ETFs, options, and cryptos
✅ Now 23 million users
✅ Cash mgt account and credit card
Free stock up to $200 with new account, plus up to $1,500 more in free stock from referrals Robinhood Review
2. Moomoo $0 ✅ Free Level 2 Nasdaq quotes
✅ Access to U.S. and Hong Kong markets
✅ Educational tools
60 free stocks with $5k deposit; or 25 free stocks with $2k deposit Moomoo Review
3. Interactive Brokers $0 ✅ Access 150+ global stock exchanges
✅ IBKR Lite & Pro tiers for all
✅ SmartRouting™ and deep analytics
Refer a Friend and Get $200 Interactive Brokers Review
4. Robinhood Gold $5 ✅ 4% APY on cash
✅ 3% IRA match
✅ Level II data
✅ No interest on first $1,000 of margin
 Save with Annual Fee Robinhood Gold Review
5. M1 Finance

$3 monthly

10k in assets

✅ Automated investing “Pies”
✅ Banking & low-interest loans
✅ No trading fees with scheduled trades
$75-$500 Tiered Sign-up bonus M1 Finance Review
6. Webull $0 ✅ Extended-hours trading
✅ Great charts and screeners
✅ Commission-free options trading
$10 and a 30-day complimentary subscription to Webull premium;
$200-$30,0000 Tiered Sign up bonus
Webull Review
7. Public $0 ✅ Fractional shares
✅ No payment for order flow model
✅ “Alpha” tool with earnings calls
$100-$10,000 Tiered Cash Account Transfer Bonus Public Review
8. Composer $32 a month ✅ Invest in automated strategies
✅ Build custom strategies easily
✅ IRAs
$49 per successful referral with no limit on the number of referrals Composer Review
9. Stash

Growth $3;

+ $9 Month

✅ Stock-Back® debit card rewards in fractional shares
✅ Auto-invest and budgeting tools
✅ Curated theme portfolios
$5 when you invest $5 Stash Review
10. Acorns

Bronze $3; Silver $6; Gold $12 a month

✅ Automated investing portfolios
✅ ESG curated portfolios
✅ Acorns Early Invest for Kids' Accounts
Get a $20 bonus when you start saving & investing Acorns Review
11. Etoro $0 ✅ CopyTrading™ to follow top traders
✅ Trade U.S. stocks, ETFs, and crypto
✅ Trades with themed portfolios
$10 Crypto Sign-Up Bonus Etoro Review
12. Cash App $0 ✅ U.S. stocks and bitcoin; $1 minimum
✅ Peer-to-peer payments
✅ Beginner-friendly financial ecosystem
Up to $200 in free overdraft coverage and earn 4% on cash Cash App Review
Fees, features, sign-up bonuses, and referral bonuses are accurate as of May 31, 2025. All information listed above is subject to change.