Incoporateing convexity into the analysis of a non-callable bond's price changes as interest rates change always results in higher bond price estimates than derived by using only the bond's duration. This is true whether interest rates increases or decrease.
答案认为这句话是正确的，求教老师，这句话表达的意思是不是：
不管利率上升或下降，不含callable option的bond在利率下降时价格的上升程度要高于free-option bond? |
发表于 2013-8-19 14:19
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