单选题 All else held equal, the duration of bonds selling at higher yields compared to bonds selling at lower yields will be:

A、

A. greater.
B、

B. lower.
C、

C. equal.

【正确答案】 B

【答案解析】Duration is inversely related to yield to maturity (YTM). The higher the YTM, the lower the duration. This is because the change in the bond's price ( or present value) is inversely related to changes in interest rates. When market yields rise, the value ( or cash flow) of a bond decreases without decreasing the time to maturity.