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One Treasury bond has a duration of 3.8 and another Treasury bond has a duration of 9.9 years. Interest rates have decreased. What has happened

One Treasury bond has a duration of 3.8 and another Treasury bond has a duration of 9.9 years. Interest rates have decreased. What has happened to the pricesof the bonds?

a.

Nothing

b.

Bond prices decreased

c.

Impossible to know

d.

Bond prices increased

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