An investment banker agrees to underwrite a $5,000,000 bond issue for the JCN corporation on a firm
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An investment banker agrees to underwrite a $5,000,000 bond issue for the JCN corporation on a firm commitment basis. The investment banker pays JCN on Thursday and plans to begin a public sale on Friday. What type of interest rate movement does the investment bank fear while holding these securities? (LG 16-2)
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Related Book For 
Financial Markets And Institutions
ISBN: 9780078034664
5th Edition
Authors: Anthony Saunders, Marcia Cornett
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