Edith Wharton's The Age of Innocence earned her the first Pulitzer Prize for literature awarded to a woman. Published in 1920 but set in 1870s New York, the novel explores the labyrinth of high society in America's Gilded Age. The novel depicts the doomed marriage of Newland Archer and May Welland.
You Sell Your Bond Before It Matures & Interest Rates have gone down. You buy a 10 year U.S. Treasury Note with a face value of $1,000 and an interest rate of 4.26%. If you sell your bond before it matures and interest rates have dropped 2%, you will receive $1,118.54 (plus any interest paid before the sale).
Interest rates and bond prices have an inverse relationship. What if rates go up? Now let's suppose that later that year, interest rates in general go up. If new bonds that cost $1,000 are paying an 8% couponâor $80 a year in interestâbuyers will be reluctant to pay the $1,000 face value for your 7% ABC Company bond.