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- 223248
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- 2011-7-11
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- 2013-8-23
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| well, option-free bond has always convexity and it is always positive which means price decreases less than what duration says. convexity says how duration changes when yield change, and even convexity is not constant and changes with yield change. |
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发表于 2011-7-11 20:08
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