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  1. Nicole Seaman

    YouTube T4-23: Fixed Income: Twists are steepening or flattening of the yield curve

    The drawback of yield-based duration and convexity is that implicitly they must assume a parallel shift in the rate curve. While there can be many non-parallel shift, the two most common are twists and butterflies. A twist is when the curve steepens or flattens. A STEEPENING is when either (i)...