Why is effective duration a more accurate measure of interest rate risk for bonds with embedded options?

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Fundamentals of Investments Valuation and Management

ISBN: 978-0077283292

5th edition

Authors: Bradford D. Jordan, Thomas W. Miller

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Question Posted: Sep 19, 2012 05:01 AM

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Why is effective duration a more accurate measure of interest rate risk for bonds with embedded options?

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Fundamentals of Investments Valuation and Management

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