Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 152

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 152
---

investments

may

also

apply

to

some

extent

to

U.S.-

traded

investments

that

are

denominated

in

foreign

currencies,

investments

in

U.S.

companies

that

are

traded

in

foreign

markets,

or

investments

in

U.S.

companies

that

have

significant

foreign

operations.

#### •

#### Interest

#### rate

#### risk.
The

values

of

bonds

and

other

debt

instruments

usually

rise

and

fall

in

response

to

changes

in

interest

rates.

Interest

rates

can

change

in

response

to

the

supply

and

demand

for

credit,

government

and/or

central

bank

monetary

policy

and

action,

inflation

rates,

and

other

factors.

Declining

interest

rates

generally

result

in

an

increase

in

the

value

of

existing

debt

instruments,

and

rising

interest

rates

generally

result

in

a

decrease

in

the

value

of

existing

debt

instruments.

Changes

in

a

debt

instrument’s

value

usually

will

not

affect

the

amount

of

interest

income

paid

to

the

fund,

but

will

affect

the

value

of

the

fund’s

shares.

Interest

rate

risk

is

generally

greater

for

investments

with

longer

maturities.

Some

investments

give

the

issuer

the

option

to

call

or

redeem

an

investment

before

its

maturity

date.

If

an

issuer

calls

or

redeems

an

investment

during

a

time

of

declining

interest

rates,

we

might

have

to

reinvest

the

proceeds

in

an

investment

offering

a

lower

yield,

and,

therefore,

the

fund

might

not

benefit

from

any

increase

in

value

as

a

result

of

declining

interest

rates.

#### •

#### Credit

#### risk.
Investors

normally

expect