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A nine-year bond has a yield of 10% and a duration of 7.185 years. If the bonds yield increases by 50 basis points (i.e., 0.5%),
A nine-year bond has a yield of 10% and a duration of 7.185 years. If the bonds yield increases by 50 basis points (i.e., 0.5%), what is the percentage change in the bonds price? Enter your answer as a decimal (e.g., 0.01 instead of 1%), rounded to four decimal places.
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