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To estimate yield volatility, an analyst may use historical yields or an implied yield volatility calculated from current market conditions. Identify the pair of terms below that correctly matches a key ingredient in each estimation process with the process itself. A. Historical yield volatility: Duration. Implied yield volatility: A series of log ratios of daily rates. B. Historical yield volatility: The standard deviation formula. Implied yield volatility: Derivative prices. C. Historical yield volatility: Derivative prices. Implied yield volatility: The standard deviation formula. |