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Stock prices change in response to changes in expected cash flows. Bond prices change in response to expected changes in interest rates. Why? You must

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Stock prices change in response to changes in expected cash flows. Bond prices change in response to expected changes in interest rates. Why? You must understand this process! What happens to the price of existing bonds (not new bonds) when market rates rise? Or fall? What is a coupon rate? Why are bonds called fixed income securities? How can one lose money owning bonds

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