Examlex
Which of these strategies is designed to guard against change?
Modified Duration
A measure that estimates how the price of a bond will change in response to a change in interest rates, adjusting for the bond's yield to maturity.
Convexity
The curvature of the price–yield relationship of a bond.
Yield
The annual percentage yield received from an investment, including interest or dividends, relative to the cost of that investment.
Rate Anticipation Swap
A switch made between bonds of different durations in response to forecasts of interest rates.
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