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Yesterday, a certain 5% coupond bond was trading with a yield-to-maturity of 4.9%. Today, the yield-tomaturity is 4.8%. Which of the following is true? Yesterday

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Yesterday, a certain 5% coupond bond was trading with a yield-to-maturity of 4.9%. Today, the yield-tomaturity is 4.8%. Which of the following is true? Yesterday the bond was trading for more than $1,000, but today it is trading for less than $1,000 Yesterday the bond was trading for less than $1,000, but today it is trading for more than $1,000 Both yesterday and today, the bond is trading for more than $1,000 Both yesterday and today, the bond is trading for les than $1,000 None of the above

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