Suppose you buy a bond paying an 8% coupon (annually) with 6 years to maturity at a current YTM of 6%. If the YTM remains constant and you hold the bond for one year, the bond price falls and your holding period return equals 6% the bond price falls and your holding period return equals 8% the bond price remains constant and your holding period return equals 8% the bond price remains constant and your holding period return equals 6%