Question: The price value of a basis point will be the same regardless if the yield is increased or decreased by 1 basis point. However, the

The price value of a basis point will be the same regardless if the yield is increased or decreased by 1 basis point. However, the price value of 100 basis points (i.e., the change in price for a 100-basis-point change in interest rates) will not be the same if the yield is increased or decreased by 100 basis points. Why?

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