Intressimäärfekt
Intressimäärfekt refers to the impact of changes in interest rates on the value of financial assets, particularly fixed-income securities like bonds. When interest rates rise, newly issued bonds offer higher yields, making existing bonds with lower coupon rates less attractive. Consequently, the market price of these older bonds falls to compensate investors for the lower interest payments. Conversely, when interest rates fall, existing bonds with higher coupon rates become more valuable as they offer a better return than new issues. This causes their market price to rise.
The magnitude of this effect is influenced by several factors, most notably the bond's maturity and its