【单选题】(I) Prices of longer - maturity bonds respond more dramatically to changes in interest rates. (II) Prices and returns for long - term bonds are less volatile than those for short - term bonds.
【单选题】(I) Prices and returns for short-term bonds are less volatile than those for long-term bonds. (II) The prices of longer-maturity bonds respond more dramatically to changes in interest rates.
【单选题】Since yield curves are usually upward sloping, the ________ indicates that, on average, people tend to prefer holding short-term bonds to long-term bonds.