Question: The PVBP will be the same regardless if the yield is increased or decreased by 1 basis point. However, the price value of 2 0

The PVBP will be the same regardless if the yield is increased or decreased by 1 basis point. However, the price value of 200 basis points (i.e., the change in price for a 200-basis-point change in interest rates) will not be the same if the yield is increased or decreased by 200 basis points. Why?

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