What is an interest only (IO) strip? How do the discount effect and the prepay- ment effect
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What is an interest only (IO) strip? How do the discount effect and the prepay- ment effect of an IO create a negative duration asset? What macroeconomic effect is required for this negative duration effect to be possible?
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Related Book For 
Financial Institutions Management A Risk Management Approach
ISBN: 9780073530758
7th Edition
Authors: Anthony Saunders, Marcia Cornett
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