Market interest rates (long term Treasuries) have gone up in the last few months from about 4% to 7%. You have had a long term Treasury Bond in your portfolio with a coupon rate of 5%. Which of the following is true about the market price of your Treasury bond?
A. It has gone from being priced above par to being priced below par. B. It has gone from being priced below par to being priced above par.
C. It has gone from being above par to being further above par.
D. It has gone from being below par to being further below par.