Hold to maturity

The mark on your zero is below what you paid. You don't sell. What is that loss?

• Unrealized: it becomes real only if you sell before maturity
• Realized, because your account shows it
• Permanent, because the issuer will now pay less

A bond has a duration of about 4. Rates rise by half a point. Roughly how much does its price change?

• About −0.5%
• About −2%
• About −4%