Bonds Valuation: Assessing a Bond's Risk

Interest rate risk is the risk of a decline in a bond's value due to an increase in interest rates. This risk is higher on bonds that have long maturities than on bonds that will mature in the near future. $q,$ risk is the risk that a decline in interest rates will lead to a decline in income from a bond portfolio. This risk is obviously $-$Select risk is more relevant to an investor depends on the investor's $,$ which is the period of time an investor plans to hold a particular investment.

Longer maturity bonds have high $$ reinvestment rate $\frac{\frac{?}{?}}{?}$ risk but low interest rate $$ risk, while higher coupon bonds have a higher level of $$ exchange rate risk and a lower level of interest rate $$ analysts focus on a measure called $$ which is the bond's sensitivity to interest rates.