PDF Risk Analysis for Corporate Bond Portfolios

First, we need to test whether the bond prices can act as market invariants. Let us say a corporate bond is issued today with maturity Apr-25-2023 and coupon rate 10%. It is clear that as the maturity date approaches, the bond price converges to the re-demption value. If we buy the bond on Apr-24-2023 and the bond retires in the next ................
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