n Investment Analysts Journal - Investment basics XL : bond price volatility

Volume 1999, Issue 50
  • ISSN : 1029-3523
  • E-ISSN: 2077-0227
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Extracted from text ... Number 50 - Part 5 1999 G Lwabona* Investment Basics XL: Bond Price Volatility * School of Management Studies, University of Cape Town, Rondebosch 7701, Republic of South Africa. Email:georgel@infosys.uct.ac. za 1. Introduction This is the first in a series of two articles dealing with measuring and managing the impact of interest rate changes on bond prices. This article discusses bond price volatility. The second, which will appear in a forthcoming issue, will discuss the concepts of duration and convexity. 2. Bond Prices All investments, including fixed-income securities and common stocks, derive their value from the cash flows they are ..

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