Interest rate risk and bond price changes Fidelity Music Inc. has an older high yield bond (i.e. junk bond) issue and a more recent investment grade bond issue. Fidelity's high yield 12% coupon bonds have a YTM of 15% and will mature in 8 years. The investment grade bonds have a 9% YTM, mature in 20 years, and pay a 6% annual coupon. As a bond investor you would like to evaluate the bond price sensitivity to underlying interest rate fluctuations for both Fidelity Music bond issues