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- 321
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- 2011-7-2
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- 2015-12-13
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so to sum this up
if interest rates fall
zero coupons will outperform everything else due to positive convexity...(and callable and MBS will have -ve convexity so will increase less due to the rise in the call option and rise in prepayments)what happens here with putables?they overperform everything except zero coupons?
if interest rates rise
zero coupons will underperform everything??
which is the best to hold?putables,MBS,callables or sinking funds? |
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发表于 2011-7-11 19:27
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