Which of the following should a bond portfolio manager who is looking for mortgage-backed securities that would
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Which of the following should a bond portfolio manager who is looking for mortgage-backed securities that would perform best during a period of rising interest rates purchase:
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a. b. c. d. a 12 percent GNMA with an average life of 5.6 years. an 8 percent GNMA with an average life of 6.0 years. a 10 percent GNMA with an average life of 8.5 years. a 6 percent GNMA with an average life of 9.0 years.
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