News & Events

Yield shocks underestimate the interest rate risk of callable bonds

July 3, 2018

Andy Kalotay provides commentary in The Bond Buyer on why interest rates and yields are not interchangeable: Yield shocks underestimate the interest rate risk of callable bonds. He explains that shocking the yields of callable bonds, instead of shocking interest rates, can lead to wildly misleading results and to inefficient hedges.

May 23, 2018 - Adding Value with Strategic Sales of Muni Bonds - CFA Institute Webinar

Event Date: 
May 23, 2018

Dr. Kalotay discussed how to improve performance of municipal portfolios by executing tax-beneficial transactions in this CFA Institute webinar.

Nov 17-18, 2016 - 7th Annual Financial Market Liquidity Conference (Budapest, Hungary)

Event Date: 
November 17, 2016

Dr. Kalotay described the process of 'Creating a Live Yield Curve in the Illiquid Muni Market' at the 7th Annual Financial Market Liquidity Conference in Budapest.

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