Most bonds pay a fixed coupon. That’s predictable, but it can be a problem if interest rates rise or inflation eats away your returns. In this chapter, we look at bonds that change with the times: floating‑rate notes that reset their coupons based on market rates, and inflation‑indexed bonds that adjust payments to keep up with rising prices. These bonds help investors handle interest‑rate risk and inflation risk without having to buy and sell all the time.