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(a) What is the relevance of duration to bond price changes? (b) How would you use duration to guide a portfolio strategy when a fall
(a) What is the relevance of duration to bond price changes? (b) How would you use duration to guide a portfolio strategy when a fall in bond yields is expected? (c) In an normal (upward sloping) yield curve situation, which bond would you expect to have a higher yield; a 10 -year, 1%. a. coupon bond or a 10 -year 10%. a.coupon bond? Why
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