Using the duration and yield information in the table below, briefly compare how the prices would move of the two HIGH YIELD bonds if you expect:

	Bond A (Callable)	Bond B (non-callable)
Maturity	2025	2025
Coupon	11.50%	7.25%
Current Price	125.75	100.00
Yield to maturity	7.70%	7.25%
Modified duration to maturity	6.20	6.80
Call date	2014
Call price	105
Yield to call	5.10%
Modified duration to call	3.10
Moody's Rating	Ca	Caa

a. Strong economic recovery with rising inflation expectations:

b. Economic recession with reduced inflation expectations: