Question
Prices of long-term bonds are more volatile than the prices of short-term bonds. However, yields to maturity of short-term bonds make their prices and their
Prices of long-term bonds are more volatile than the prices of short-term bonds. However, yields to maturity of short-term bonds make their prices and their rates of return more volatile. How do you reconcile these two empirical observations?
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077647094
