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Bond J has a 4% coupon and Bond K a 10% coupon. Both have 10 years to maturity, make semiannual payments, and have 9% YTMs.

Bond J has a 4% coupon and Bond K a 10% coupon. Both have 10 years to maturity, make semiannual payments, and have 9% YTMs. If market rates rise by 2%, what is the percentage change of these bonds? If rates fall by 2% what does this say about the risk of lower coupon bonds

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