If interest rates do rise,bond prices will fall,according to the inverse relationship between bond price and interest rates. The fixed income investor should hold only shorter maturity bonds to avoid heavier price falls from ri-sing interest rates.

• 如果利率真的上升，债券价格就会往下落，这时候投资者应该持有较短期的债券，减低债券价格滑落所带来的冲击。