Interest Rates: Higher interest rates generally decrease bond prices as newly issued bonds offer better yields. Lower rates tend to increase bond prices.

Inflation: Rising inflation erodes the purchasing power of future fixed income payments, leading to lower bond prices. Declining inflation has the opposite effect.

Credit Risk: Changes in the issuer's financial health can affect bond prices. Increased credit risk leads to lower prices, while improved creditworthiness can boost prices.

Market Sentiment: Overall investor confidence and risk appetite influence bond demand. Positive sentiment can increase prices, while fear or uncertainty can lower them.

Economic Growth: Strong economic growth can lead to higher interest rates and inflation, potentially decreasing bond prices. Slow growth or recessionary concerns may increase demand for bonds as a safe haven.

Supply and Demand: Increased bond supply can put downward pressure on prices, while higher demand can drive prices up. Factors like central bank policies influence supply and demand.