Fixed Income: Duration
I am unable to understand the logic in the below statements :
Holding other factors constant:
- Duration increases when maturity increases.
- Duration decreases when the coupon rate increases.
- Duration decreases when YTM increases.
Is duration = Bond Price/ Yield to Maturity?
If so, Bnd price should increase with increase in coupon payment. So, duration should increase. What am I missing?
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