Reinvestment risk is the risk that\ A bond's value may fall in the future.\ A bond's future coupon payments may have to be invested at a declining interest rate.\ An investor's holding period will be short and equal in length to the maturity of the bonds he or she holds.\ A bond's issuer may fail to make the future coupon payments and the investor will have no cash to reinvest.

Reinvestment risk is the risk that 1) A bond's value may fall in the future. 2) A bond's future coupon payments may have to be invested at a declining interest rate. 3) An investor's holding period will be short and equal in length to the maturity of the bonds he or she holds. 4) A bond's issuer may fail to make the future coupon payments and the investor will have no cash to reinvest