4. Consider the following graph from tk lecture notes: 200 Initial Bond Coupon Maturity YTM A 12% 5 years 10% 12% 30 years 10% 3% 30 years 10% D 396 30years 6% 150 100 5 50 50 Change in Yield to Maturity (%) a) Explain what the effect of a higher coupon rate is on a bond's convexity b) Does a higher initial yield to maturity increase a bond's convexity? Explain