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Since we know the relationship between bond prices and YTM is convex, we should expect an increase in a bonds price when YTM declines to
Since we know the relationship between bond prices and YTM is convex, we should expect an increase in a bonds price when YTM declines to be ___ a decrease in the price when YTM increases with the same magnitude.
A. | Smaller than or larger than, dpending on the level of the YTM. | |
B. | Equal to | |
C. | Smaller than | |
D. | Larger than |
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