In order to receive fixed-rate interest payments, and then your initial investment back in full, you need to hold onto the bonds until they mature. However, some bonds - especially those issued by the U.S. government, can be freely traded on the open market. As bond prices can fluctuate, you might get less than what you paid if you attempt to sell them early. For bonds to go down in value, this would indicate that the marketplace believes there is more risk attached to them compared to when the bonds were originally issued. On the other hand, if the bond issuer is in a clean-bill of financial health, then its likely the value of the bond will sell at a premium.