If a bond is selling at a discount to par, then its coupon rate is greater than its yield to maturity.
This is because the yield to maturity takes into account the bond's purchase price, while the coupon rate does not. The coupon rate is the amount of interest paid each year on the face value of the bond.
When a bond is selling at a discount, the coupon rate will be higher than the yield to maturity to compensate for the lower purchase price. When a bond is selling at a discount to par, it means that the market interest rates are higher than the coupon rate of the bond. This means that the bond's yield to maturity is higher than its coupon.
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