长期债券价值相比短期债券价值对利率对利率敏感性更高；
if the bond you hold pays 5% coupon, and market now pays 6%. The longer your bond is
the longer you have to wait to get your money back to invest in with the higher coupon. the
longer you will have to wait, the more you lose.

同面值零息债券价值比附息债券价值对利率敏感性更高

WIth some coupon payments, you can reinvest your coupons to the higher fair market rate.

haha , try hard

看看~~~