Applied Duration Concepts Review
Duration is the sensitivity of the price of a bond or portfolio to a change in interest rates. Unlike time …
immunizing a single liability
Macaulay Duration, Money Duration and Modified Duration
Macaulay duration is the weighted average time until the cash flows of an instrument are received. That is why Macaulay duration …
Immunizing a Single Liability
Immunization is a fixed-income management process in which the portfolio is managed to minimize the variability of the rate of return …