单选题 Bond is selling at a discount relative to its par value. Which of the following relationships holds? A. yield to maturity ＜ coupon rate ＜ current yield. B. current yield ＜ coupon rate ＜ yield to maturity. C. coupon rate ＜ current yield ＜ yield to maturity.

【正确答案】 C

【答案解析】When a bond is selling at a discount, it means that the bond has a larger YTM (discount rate that will equate the PV of the bond's cash flows to its current price) than its current yield ( coupon payment/current market bond price) and coupon payment.