请问下,
int rises, callable bond不是behave like a option free bond么, 为什么说普通bond ED变化下, callable bond ED will lengthen。
是因为利率小的时候, callable bond ED很小, 小于 option free bond ED、
利率变大时候, callable bond ED jump from very small to large
so change of ED of callable bond > change of ED of option free bond> change of ED of option free bond, 是么?