What did you mean 而且interest涨，bond 的利率也涨的。

When you own a bond, it pays FIXED coupon dividend once or twice a year and it pays the FIXED principle at maturity.

coupon rate = coupon dividend per year / principle or face value

If the prime interest rate > coupon rate, the bond will be sold at discount, which means selling price < face value. Conversely, when interest rate < coupon rate, selling price > face value.

So if you bought a bond when prime interest rate is A, and sell the bond when prime interest ratｅ　ｉｓ　at a higher B, the selling price will be lower than your purchase price, you WILL lose money.

Ｙｅｓ，　ｉｔ　ｉｓ　ｐｏｓｓｉｂｌｅ　ａｔ　ｔｈｉｓ　ｔｉｍｅ　ｙｏｕ　ｗｉｌｌ　ｓｅｅ　ｓｏｍｅ　ｎｅｗｌｙ　ｉｓｓｕｅｄ　ｂｏｎｄ　ｗｉｔｈ　ｈｉｇｈｅｒ　ｃｏｕｐｏｎ　ｒａｔｅ，　ｂｕｔ　ｔｈｏｓｅ　ａｒｅ　ｎｏｔ　ｔｈｅ　ｂｏｎｄ　ｙｏｕ　ｏｗｎ　ａｎｄ　ｙｏｕ　ｃａｎｎｏｔ　ｍａｋｅ　ｍｏｎｅｙ　ｂｅｃａｕｓｅ　ｏｆ　ｔｈｅｍ。

Did I miss something?

对不起，本人中文输入较慢。

If you wonder why the coupon rate of the bond is higher than interest rate you can ear from a bank account, the reason is that you bear higher risks when you invest in a bond. Your deposit in the bank is insured with US government. On the other hand, there is the possibility, although small, that the bond could default, and you will not get paid the promised dividend, even the principle. There are also other more complicated and subtle risks involved. The bond issuer pay you higher return to attract your investment.