Country beta Vs Yield Beta

CFA Level III
#1

I always confuse country beta and yield beta.

what is their regression variables? when to apply each?

Thanks

#2

Country Beta - used for seeing effect of changes in interest rates in domestic on foreign bonds

Yield Beta - used for changing the duration exposure using futures contracts.

I dont remember the regression variables though…

#3

Yield beta: regress a bond yield on CTD’s yield.

#4

i think for country beta, we need to regress variables -

yield change in foreign bond and yield change in domestic bond