债券价格关系 Bond Pricing Relationships(cont'd 到期收益率增长时,价格对收益变化的敏感性以 降的比率增加, As maturity increases, price sensitivity increases at a decreasing rate ■价格对收益变化的敏感性与债券的息票率有一反向关 系 Price sensitivity is inversely related to a bonds coupon rate. ■债券价格对收益变化的敏感性与该债券销售的到期收 益率承负相关关系 Price sensitivity is inversely related to the yield to maturity at which the bond is selling 16-516-5