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Duration is an approximate measure of a bond's price sensitivity to changes in interest rates. If a bond has a duration of 6 years, for example, its price will rise about 6% if its yield drops by a percentage point (100 basis points), and its price will fall by about 6% if its yield rises by that amount.
duration of action. Therapeutics The length of time that a particular drug is effective. duÂ·raÂ·tion of acÂ·tion. (dÅ­r-Ä'shÅ­n ak'shÅ­n) The amount of time that a measurable drug effect persists.