What do different yield curve shapes mean?

(i.e. yield is the same as the coupon rate). At 5%, the duration is about 8 years and it increases to 9.5 December 2015 Investment Insight: Duration, Yield Volatility, and Bond Exposures Edward Qian, PhD, CFA Exhibit 1 Duration of a 10‐year bond with different interest rates and yields ................
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