Suppose the Market Interest Rate Is Stable at 4 Percent

Suppose the market interest rate is stable at 4 percent and we see a decline in bond prices (and thus a rise in bond yields) . One explanation for this is that

A) bond issuers are facing an excess demand for their bonds.
B) bond purchasers perceive an increase in riskiness and thus a lower expected present value from those bonds.
C) bond purchasers perceive a reduction in riskiness and thus a higher expected present value from those bonds.
D) there is a positive relationship between interest rates and bond prices.
E) there is no causal relationship between market interest rates and bond prices.