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A bond has a Macaulay Duration of 15.28 Modified duration of 13.0 years. What is the percent change in the bond price from an increase
A bond has a Macaulay Duration of 15.28 Modified duration of 13.0 years. What is the percent change in the bond price from an increase in the bond yield of 1 basis point? Pay attention to if the change is positive or negative and give your answer to the nearest 0.01% (e.g. write -3.25 if your answer is three and a quarter percent decline or 3.25 if your answer is three and a quarter percent increase)
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