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A bond-portfolio manager is considering adding a position to the portfolio. He is choosing between a domestic bond with a duration equal to 4.8 or a foreign bond that has a duration of 6.0 and a country beta equal to 0.8. If the manager wishes to add the bond with the lower sensitivity to domestic interest rates, the manager: A. would choose the foreign bond. B. would be indifferent between the two bonds. C. would choose the domestic bond. |