FIN 351 CHAPTER 12 QUIZ 21 TO 25 21. The key to a pure pickup yield swap is that the bond price of one or both bonds has to be in disequilibrium. 22. Interest rate changes affect low quality issues to a greater degree than high quality issues. 23. Deep discount bonds reflect questionable quality. 24. Deep discount bonds are not prone to calls because they sell at low prices. 25. Lower quality bonds tend to be in high demand during a recession.