Any thoughts on whether this will be a requirement to calculate or should this be a secondary formula sheet item?
i would think ED is a premiary sheet formula. It was a big topic for LI so i figure t cant hurt to know the formula. EC i would learn too, although i thin kthat formula has less of a chance to show up I would say the total duration and convexity effect formula is more important to know…just my opinion --> -ED(change in yields) + EC(change in yields^2)
I would also focus on key rate duration and be sure how to use that and understand where it comes from. Thing is, why not just committ the ED and EC to memory? EC is only slightly different from ED so if you already know ED you should be set after spending a very short amount of time on it.