smartpants

T
F - CR>YTM
T
F - CR>CY>YTM for premium

I'm an expert now lol thanks guys

It's pretty easy, if the market is offering a higher rate (YTM=9%) then the bond you currently own (CR of your bond 5%), who is going to want to buy your bond when they can buy the 9% mkt rate bond? No one, so inorder to sell your bond, you have to offer it a lower price to entice people to buy it, a discount.

That's why

Discount Bond = YYM>CY>CR

and CY is always in the middle of the 3.

Is that all correct?