The price of a bond is a function of the promised payments and the market-required rate of return. Because the promised payments are fixed, bond prices change in response to changes in the market-required rate of return. For investors who hold bonds, the issue of how sensitive a bond's price is to changes in the required rate of return is important. There are four measures of bond-price sensitivity that are commonly used: Simple Maturity, Macaulay Duration (effective maturity), Modified Duration, and Convexity. Each of these measures provides a more exact description of how a bond price changes relative to changes in the required rate of return.

【書誌情報】

ページ数：9ページ

サイズ：A4

商品番号：HBSP-UV0393

発行日：1999/8/19

登録日：2015/2/5