[请问胡老师]option-free bond's price sensitivity

怕漏掉， 还是重新启个帖子

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is an option-free bond's price sensitivity postively correlated with

bond's coupon rate?  market interest rate?

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这题的答案说option-free bond's price sensitivity is negatively related to both rates

我觉得market interest rate 与 bond's price 负相关没问题， 但coupon rate 应该是正相关呀？coupon 越高债券价格当然应该更高。

如果用Duration 公式来判断也是这样：  percentage change of bond price = - Duration * Yield change

coupon rate 与 duration 是负相关的，再加上前面的负号

那么coupon rate 与 价格就是正相关。

(我上面的理解有问题么？)

谢谢老师！