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| Richards asks Cupp to explain the difference between duration and spread duration. Which of the following statements regarding duration and spread duration is least accurate? A. Spread duration measures the sensitivity of non-Treasury issues to a change in their spread above Treasuries of the same maturity. B. A parallel change in the yield curve will cause the spread duration to also change. C. Spread duration measures used for fixed rate bonds include the nominal spread, zero-volatility spread, and option-adjusted spread (OAS). |