强化班讲义中 reading11说到structural risk can be reduced by minimizing the dispersion/convexity,最好是用bullet portfolio。
reading12中ladderd portfoli又说是has benifit of diversifcation, 最能hedge non parallel shift and twist of yield curve。押题中类似题目也是这样的答案。
请问非平行移动的收益率曲线最能hedge的到底是bullet还是laddered portfolio?