单选题

Given two otherwise identical bonds, when interest rates rise, the price of Bond A declines more than the price of Bond B. Compared to Bond B, Bond A most likely:

A、 is callable.
B、 has a lower coupon.
C、 has a shorter maturity.

【正确答案】 B

【答案解析】

B is correct because the lower the coupon rate, the greater the bond’s price sensitivity to changes in interest rates.