Even allowing for convexity, there still may be a very small difference between the true change in
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Even allowing for convexity, there still may be a very small difference between the true change in the value of a bond and the value change predicted by the duration model adjusted for convexity. This is because convexity itself varies as the level of interest rates changes. In practice, few investors or fund managers concern themselves with this issue.
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Related Book For 
Financial Markets And Institutions
ISBN: 9781259919718
7th Edition
Authors: Anthony Saunders, Marcia Cornett
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