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(4 mini-steps only)

Price change of a bond (modified duration + convexity)
Click to show formula

\(\Delta P(\%) = -ModD\times\Delta r + 0.5\times{C} \times (\Delta r)^2\)

  • \(\Delta P(\%)\) - percentage change in bond price
  • \(ModD\) - modified duration
  • \(C\) - convexity
  • \(\Delta r\) – yield change
  • \(0.5\times{C} \times (\Delta r)^2\) - convexity adjustment