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问题如下：

For a 100 bps increase in yield-to-maturity and using money duration and money convexity, the estimated change in Bond Y’s full price is closest to:

选项：

–GBP472,937

–GBP450,180

–GBP427,423

解释：

C is correct.

MoneyDur ≈ 9.0036 × 5,000,000 = 45,018,000

MoneyCon ≈ 91.0278 × 5,000,000 = 455,139,000

ΔPVFull ≈ –(45,018,000 × 0.01) + [0.5 × 455,139,000 × (0.01)^2]

= –GBP427,423.