Question: Other things equal, if a bond is callable, its yield to maturity (i.e., the market interest rate) will be __________ that on an otherwise identical,

Other things equal, if a bond is callable, its yield to

Other things equal, if a bond is callable, its yield to maturity (i.e., the market interest rate) will be __________ that on an otherwise identical, non-callable bond. Olower than unrelated to higher than the same as either higher or lower than (depending on the level of the call premium)

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