问题如下：
If the reinvestment risk of the bond is equal to its market price risk, the bond's holding period should be equal to:
选项：
A.price value of a basis point.
B.duration gap.
C.Macaulay duration.
解释：
C is correct.
Macaulay duration clearly shows the necessary holding period of the bond so that the coupon reinvestment risk can offset the market price risk. Price value of a basis point (PVBP) is an estimate of the change in the full price given 1 bp change in the yield-to-maturity. Duration gap measures the difference between Macaulay duration and the investment horizon.
老师 可以解释一下这道题吗
