Which of the following is NOT correct? All else equal, long-term bonds have more interest rate risk (also known as price risk) than short-term bonds. If a coupon bond is selling at par, its current yield equals its yield to maturity, and its expected capital gains yield is zero. The total rate of return on a bond during a given year is the sum of the coupon interest payments received during the year and the change in the value of the bond from the beginning to the end of the year, divided by the bond's price at the beginning of the year. If a bond's yield to maturity exceeds its coupon rate, the bond's price must be less than par value. All else equal, if a bond's yield to maturity decreases, its price will fall.