: Bonds with longer durations (longer time to maturity) are more sensitive to interest rate changes and experience sharper price swings than short-term bonds. Strategic Considerations for Investors

: If you hold a bond and market interest rates go up, your bond's market value decreases. To sell it, you would have to offer it at a discount so its yield matches new, higher-rate bonds.

: While a bond's price fluctuates, its yield (the total return) moves in the same direction as market interest rates.