A bond is currently trading for $104.45 per 100 of par value. If the bond’s yield-to-maturity (YTM) rises by 10 basis points, the bond’s full price is expected to fall to $104.00. If the bond’s YTM decreases by 10 basis points, the bond’s full price is expected to increase to $104.91. What is the bond’s approximate convexity?
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