7.87为什么是 负号？问一道题：NO.PZ2016031002000051 [ CFA I ]

NO.PZ2016031002000051 问题如下 Assuming ththe yielfalls 90 basis points, what's the percentage of the prichange of a bonwith a mofieration of 9.6? A.10.67%. B.-8.64%. C.8.64%. C is correct.考点ration解析本题中利率下降了90bps，即下降了0.9%，所以△y为 -0.9%，ration为9.6，代入公式即可△P/P= - ration × △y= - 9.6 × (-0.9%)=8.64%，故C正确。 如题

NO.PZ2016031002000051 请问为什么直接乘就可以？

-8.64%. 8.64%. C is correct. Correanswer: (-9.6)x (-0.90%)=8.64% Incorreanswer: 9.6x (-0.90%)= -8.64% (-9.6)/ (-0.90%)=10.67% mofieration=macaulration/(1+r)这道题不理解

我就想问一下，ration一般指的都是mofieration是么

解题时，请问如何排除mofieration的影响？很容易代入mofieration的公式里，最后算出macaulay公式久期