The interest rate is the opportunity cost of investing elsewhere. Why would someone buy a bond at a 1% discount when they can buy the exact same bond at a 2℅ di

The interest rate is the opportunity cost of investing elsewhere. Why would someone buy a bond at a 1% discount when they can buy the exact same bond at a 2℅ discount? Aside from not making large unmatched unhedged yield curve bets, not marking portfolio prices to market was a problem for SVB.