CHAPTER 16 MANAGING BOND PORTFOLIOS 16-1 Outline of the Chapter • Bond pricing and sensitivity of bond pricing to interest rate changes • Duration analysis – What is duration? – What determines duration? • Convexity • Passive bond management – Immunization • Active bond management 16-2 Interest Rate Risk • There is an inverse relationship between interest rates (yields) and price of the bonds. • The changes in interest rates cause capital gains or losses. • This makes fixed-income investments
Premium Bond
To what extent did the development of the Cold War influence Stalin’s policies inside the USSR? Up until 1945 the tensions between the USSR and the USA had been covered by the fact that both sides were trying to fight against Hitler and therefore relations up until the war had been relaxed. However this changed after 1945 the victory against Germany brought them international superpower status giving them more control and influence over many countries especially in Eastern Europe. As a result Stalin
Premium Soviet Union Cold War Russia
The graphs below give information about commuting inside and outside London in 2009. Summarise the information by selecting and reporting the main features‚ and make comparisons where relevant. | | Source: Office for National Statistics Commuting inside and outside London in 2009 The graphs show the time it takes employees to commute to their workplaces and the mode of transport . They use figures that are given for both inside and outside London . For the majority of the UK
Premium Transportation Bicycle Train
are given a rare and candid glimpse inside the educational system in the city of Boston in the 1960’s. As Kohl describes the treatment that minority students endured at the hands of their teachers‚ it becomes clear that the title of the book is an accurate depiction of the times. As we read about teachers calling students terrible names and treating minority students with contempt and disgust‚ it is apparent how the spirit of the students were slowly dying inside. Although this was over fifty years
Premium Education Teacher
established in advance social life. Her work had always been critically discussed‚ because her written work opposed almost every norm and value of the stabilized American society of the Fifties. One of the discussed issues is if Esther trapped herself inside “the bell jar” or was she placed there by the societal pressures of her day. The human tragedies which “The Bell Jar” describes are three-fold: the execution of the Rosenbergs with which the novel opens‚ the horrific medical treatment given to Esther
Premium Sociology The Bell Jar Suicide
By: Thomas Kallergis Film Critique: Analyzing the Star or Director Through Their Films Spike Lee - Modern Star Director - She’s Gotta Have it‚ Crooklyn‚ Inside Man Spike Lee‚ born Shelton Jackson Lee‚ is a modern Black director who was born in Atlanta‚ Georgia but grew up in Brooklyn‚ New York. It can be said that Mr. Lee is not one to shy away from controversy‚ be it in his films or public statements. The production company that Mr. Lee founded is called “40 Acres and a Mule” referring to
Premium Film director Film Feature film
The Globalization of White Collar Crimes: An Inside Look of How Fraud‚ Embezzlement‚ Cybercrime‚ Identity Theft and Forgery Are Increasing World-Wide In this paper I will examine some of the aspects of white collar crimes such as: fraud‚ embezzlement‚ cybercrimes‚ identity theft and forgery. I will explain what each of these are pertaining to criminal justice and how they relate to one another. And I will conclude by how each of these topics are growing into global problems. According to Criminal-Law-Lawyer-Source
Premium Fraud Computer security Crime
Running head: MANAGING CONFLICT MANAGING CONFLICT Organizational Behavior: Managing Conflict within the Workplace � Abstract Our team has decided to write our research paper on conflict management. We felt that this topic would be a good choice because we feel that many of today’s companies have problems dealing with conflict. If managers are trained and aware of conflict management‚ conflict can bring out creativity and different points of view. The positive outcomes from conflict management
Premium Management Conflict Conflict management
Inside and Out: A Compare/Contrast Essay about the advantages and disadvantages of "hanging out" at home vs. "going out" to have a good time as a young adult. We all like to have a good time. Whether it is with our friends‚ significant others‚ or our families‚ we all need to relax. Being a young adult myself I have learned to make wiser decisions about my "party time" based on prior experiences. After having gone to the clubs‚ the bars‚ the pool halls‚ and the raves I now know that where the real
Premium Feeling Recreation A Good Day
There are a lot ways on how we learn‚ our parents‚ friends‚ teachers‚ professors‚ employers and co-workers are all there to teach us. Learning is not only exclusive inside the classroom or in school. We even learn most in our daily experiences. But is it more effective or best to give focus on the positive actions and ignoring the negative ones? I believe that giving focus or attention to negative ones is as important as giving focus on the positive ones. As parents we are considered as the
Free Education Teacher