In 2009, interest rates exhibited a large decrease due to Federal Reserve policy and other factors.Therefore, what was happening to bond prices at
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In 2009, interest rates exhibited a large decrease due to Federal

Reserve policy and other factors. Therefore, what was happening to bond prices at the same time? Provide the definition of the yield to maturity (YTM) and explain why, based upon the interest rate as a YTM (feel free to use a specific YTM equation to help you in your explanation). Were investors in 2009 who had bought long-term bonds before this move happy or unhappy at the result? Explain why, using the rate of return measure 

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