Inserting links and highlighted text

When I want to insert a link, I highlight the text, type the link and click insert. Instead of inserting the link at the highlighted text, the link is inserted at the top of the post. Example, what I want (and used to get) is — note, carrot characters replaced by square brackets for illustration only — this:

[a href=”http://havecoffeewillwrite.com/?p=29478%5D%5Bstrong%5DPreviously%5B/strong%5D%5B/a%5D:

Instead, what I get is this:

[a href=”http://havecoffeewillwrite.com/?p=29478″%5D%5B/a%5D

[strong]Previously…[/strong]