# Understanding Bond Yields

According to Bloomberg, the coupon rate on a 10-year UK government bond is 4.75%.

Bloomberg also states that the yield is currently 0.55%, and the market price £143.51.

But if the following formula is correct:

Then the yield should be $$\frac{4.75}{143.51} \approx 3.31$$%

Clearly this isn't the case. So what did I do wrong?

• Could you please post a link to the Bloomberg report? – FreeMarketUnicorn Mar 21 at 19:26