what else does duration tell you 
as a bond s duration rises its interest rate risk also rises because the impact of a change in the interest rate environment is larger than it would be for a bond with a smaller duration fixed income traders will use duration along with convexity to manage the riskiness of their portfolio and to make adjustments to it bond traders also use key rate duration to see how the value of their portfolio would change at a specific maturity point along the entirety of the yield curve when keeping other maturities constant the key rate duration is used to measure the sensitivity of price to a 1 change in yield for a specific maturity 