3. Which of the following statement is correct? (A) A downward sloping yield curve would imply that interest rates are expected to be higher in the future. (B) A bond trades at a discount whenever its yield to maturity is less than its coupon rate. (C) Bonds with higher coupon rates are more sensitive to interest rate changes than otherwise identical bonds with lower coupon rates. (D) Shorter-maturity zero-coupon bonds are less sensitive to changes in interest rates than are longer-term zero-coupon bonds