Sometimes, these two important financial markets move up together, especially in an environment of general disinflation, when interest rates tend to decline.

有时候，这两个重要的金融市场一起移动，特别是在一般通货膨胀，当利率趋于下降的环境。

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Thus, Lardy finds that when interest rates decline, households tend to save more.

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When interest rates decline, the value of a bond investment rises, and conversely when rates rise, your bonds decline in value.

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When interest rates rise, the value of (interest rate sensitive) bonds will decline.

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