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11 Convexity arises because: duration is an increasing function of maturity. coupon changes are the opposite sign of interest rate changes. bond prices are a
11 Convexity arises because: duration is an increasing function of maturity. coupon changes are the opposite sign of interest rate changes. bond prices are a nonlinear function of interest rates. duration increases at higher interest rates
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
8th Edition
0324259700, 978-0324259704
