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A university endowment fund has sought your advice on its fixed - income portfolio strategy. The characteristics of the portfolio's current holdings are listed below:

A university endowment fund has sought your advice on its fixed-income portfolio strategy. The characteristics of the portfolio's current holdings are listed below:
\table[[Bond,\table[[Credit],[Rating]],\table[[Maturity],[(yrs.)]],\table[[Coupon],[Rate (%)]],\table[[Modified],[Duration]],\table[[Market Value],[Convexity Position]],],[A,U.S. Govt.,3,0,2.724,9.9,$34,000
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