CFA L1 Fixed Income: Interest Rate Risk and Return
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Last updated 3:57 PM on 2/25/26
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13 Terms
1
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2
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Total return formula
3
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Total return formula example (very key to realize and interpret)
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We use the total return formula when we see
Changes in interest rates over time
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Carrying value
6
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What are the two offsetting types of risk?
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Macaulay duration (MacDur) definition
8
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Duration gap formula
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Negative duration gap signifies
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Positive duration gap signifies
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MacDur how to calculate
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MacDur Formula (in the formula sheet, Mark says you don’t have to memorize)
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Calculator keys to find present value for MacDur
