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Quotes of the day:
Success and failure are both difficult to endure. Along with success come drugs, divorce, fornication, bullying, travel, meditation, medication, depression, neurosis and suicide. With failure comes failure.
A roll-down return is a strategy for maximizing a bond’s overall yield by exploiting the yield curve. It is dependant on the fact that the value of a bond converges to par as its maturity date approaches.
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