Question 20 A British bond manager wants to buy 5y German bunds (government bonds). Let's say that he wants to have 10% of the bonds in his portfolio to be these bunds. The bunds have a duration of 4.4, and they have a country beta of 0.51. What is the contribution of the bunds to the manager's portfolio duration? Question 21 4 pts The manager of a bond fund is concerned that a particular bond the fund owns might get downgraded. She purchases a 6-month credit forward contract on that bond struck at 200 bps, with a notional amount of $5 million, a risk factor of 3.7. What is her payoff in $ at maturity if the credit spread on the bond is 135 bps