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Briefly explain the issue of negative convexity in Mortgage-backed Secu- rities (MBS). What does negative convexity imply for hedging of MBS?
Briefly explain the issue of negative convexity in Mortgage-backed Secu- rities (MBS). What does negative convexity imply for hedging of MBS?
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International Financial Management
Authors: Cheol S. Eun, Bruce G.Resnick
6th Edition
71316973, 978-0071316972, 78034655, 978-0078034657
