Convexity Bias

The document discusses the yield curve and how interest rates on government bonds of different maturities are related. It explains that the yield curve is normally upward sloping, indicating that longer-term bonds have higher yields than shorter-term bonds. The document is about understanding the yield curve and was originally published by Salomon Brothers in 1995.

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Convexity Bias

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Reprinted with permission from Understanding the Yield Curve, United States Fixed-

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Convexity Bias

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Convexity Bias

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Reprinted with permission from Understanding the Yield Curve, United States Fixed-

Income Research Portfolio Strategies, September 1995. Copyright 1995, Salomon

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