Moving to higher-yield bonds, usually with longer maturities, is called ________.

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Moving to higher-yield bonds, usually with longer maturities, is called a pure yield pickup swap. A substitution swap refers to replacing one security with a similar one, while an intermarket spread swap involves swapping one bond for another with a different yield spread between them. A rate anticipation swap refers to changing the duration of a bond portfolio based on anticipated changes in interest rates.

Moving to Higher-Yield Bonds, Usually with Longer Maturities, Is Called