FI
FixedIncomeLearner2026-05-20
cfaLevel IFixed IncomeDuration
When can a longer-maturity bond have lower duration than expected?
I keep using the shortcut that longer maturity means higher duration, but one question explanation said that was not enough. In what kind of setup does that shortcut break down?
55 upvotes
Verified ExpertVerified Expert
AcadiFi Certified ProfessionalThe shortcut breaks down when coupon structure or discounting changes the present-value weights enough that maturity no longer tells the whole story.
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