这道题的考点

问题如下：

With a constant market discount rate, as a non-callable, fixed-coupon bond approaches maturity:

选项：

A.

the price–yield relationship will become more convex.

B.

a low-coupon bond trading at a discount will increase in price.

C.

a high-coupon bond trading at a premium will increase in price.

解释：

Correct Answer: B

Any bond trading at a discount will increase in price because of the pull-to-par effect.

A is incorrect because the price–yield relationship generally becomes less convex as a bond approaches maturity.

C is incorrect because a high-coupon bond trading at a premium will decrease in price as it approaches maturity.