What does duration tell you about the sensitivity of a bond portfolio to interest rates? What are

Question:

What does duration tell you about the sensitivity of a bond to interest rates? What are the limitations of the duration measure?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...