You would pay a premium

来源: 于 2023-02-17 07:51:49 [博客] [旧帖] [给我悄悄话] 本文已被阅读：次

If the current new issue rate is lower than the coupon rate of the bond you bought, you must have paid a premium for that bond.  (above par)  The end result would be the yield on your 5.05% bond would be the same as the current new issue rate. 

Nobody is a fool.