Question: #5 in the notes mentions that under certain conditions, the YTM for new bonds may be higher than for older bonds. Where does YTM come

 #5 in the notes mentions that under certain conditions, the YTM

#5 in the notes mentions that under certain conditions, the YTM for new bonds may be higher than for older bonds. Where does YTM come from? In other words, how does it get determined

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