If the reinvestment rate is lower than the redemption yield, the opposite is true.

如果再投资率低于赎回收益率，则会出现相反情况。

If the reinvestment rate is higher than the redemption yield then the actual return on the bond, assuming it is held to maturity, will be higher than the redemption yield.

假如再投资率高于赎回收益率，假定持有至偿还期，则有息债券的实践报答远远高于赎回收益率。