If the reinvestmentrate 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。
2
If the reinvestmentrate 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。
3
When their reinvestmentrate on the added equity capital was 12 percent while interest rates generally were around 4 percent, investors became very happy - and, of course, they paid happy prices.