Why is Macaulay duration an inadequate measure of interest rate risk for an MBS? Why is effective
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Macaulay duration assumes fixed cash flows With MBSs and CMOs the payments depend on prepayments ...View the full answer
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Related Book For
Fundamentals of Investments Valuation and Management
ISBN: 978-0077283292
5th edition
Authors: Bradford D. Jordan, Thomas W. Miller
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