Which one of the following statements is correct? 1. The time to maturity has no effect on the response of a bonds price to a change in the bonds yield to maturity. 2. Short-term bonds are more interest rate sensitive than long-term bonds. 3. The magnitude of price increases is greater than that of price decreases for a given absolute change in the yield to maturity. 4. Bonds prices are directly related to bond yields. 5. High-coupon bonds are more interest rate sensitive than low-coupon bonds.