io-strips

  1. S

    Negative convexity

    Hello, Do IOs ever have positive convexity? I have seen the P/Y graph for POs, but really cannot find one for IOs. POs have pos convexity at higher yields and neg convex at low yields but I am not sure at all what the P/Y graph for an IO looks like. Also, this may be a very dumb question, but...
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