1) Bond prices and yields are impacted by changes in the yield curve. If the yield curve shifts down, bond prices will increase and yields will decrease. If it shifts up, prices will decrease and yields will increase. 2) There is a difference between dirty and clean bond prices. The dirty price includes accrued interest, while the clean price excludes it. To calculate the clean price, accrued interest is subtracted from the dirty price. 3) Bond dealers quote prices as bids and asks relative to par value. The bid price is what the dealer will pay to purchase bonds, while the ask price is what the dealer will sell bonds for.