Duration is a direct measure of the sensitivity of a bonds price to a change in its

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Duration is a direct measure of the sensitivity of a bond’s price to a change in its yield. The proportional change in a bond’s price equals the negative of duration multiplied by the proportional change in 1 + y. P-963

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ISE Investments

ISBN: 9781266085963

13th International Edition

Authors: Zvi Bodie, Alex Kane, Alan Marcus

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