kkn006

VCallableBond=VNonCallAbleBond - VCall.

Interest Rate increase - VNonCallableBond decreases.
VCall Increases (as above)

so VCallableBond decreases

VPutableBond = VNonPutableBond + VPut

VNonPutableBond decreases
VPut Decreases as well.

So VPutableBond decreases.

CP