All other things equal, a bond's duration is ________.

Name: All other things equal, a bond's duration is ________.
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Bond duration is lower when the yield to maturity is higher, all other things being equal. This is because as yield to maturity rises, future cash flows are discounted at a higher rate, decreasing the value of the long-term cash flows more significantly than the short-term cash flows. Therefore, the weighted average time until all future cash flows are received (duration) is lower.

All Other Things Equal, a Bond's Duration Is ________