Question: (a) How does a portfolio manager use interest rate swaps to adjust the duration of a fixed income portfolio? What position does a manager take

(a) How does a portfolio manager use interest rate swaps to adjust the duration of a fixed income portfolio? What position does a manager take if they wish to increase the duration of the portfolio? What position does the manager take if they wish to decrease the duration of the portfolio? (b) How does a portfolio manager use interest rate futures to adjust the duration of a fixed income portfolio? What position does a manager take if they wish to increase the duration of the portfolio? What position does the manager take if they wish to decrease the duration of the portfolio? (c) How does a portfolio manager use repurchase agreements or reverse repurchase agreements to

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