Why portfolio Macaulay duration, portfolio cash flow yield and portfolio Convesity are greater that market vale weighted average of individual bond Macaulay duration, yield and Convesity respectively, when yield curve is upward sloping?
Why portfolio Macaulay duration, portfolio cash flow yield and portfolio Convesity are greater that market vale weighted average of individual bond Macaulay duration, yield and Convesity respectively, when yield curve is upward sloping?