A. Calculate the dirty price, clean price, modified duration and modified convexity of the Government bonds as at the end of June 2019 and the end of December 2019. Discuss your results. (7 marks)

B. Calculate the holding period return for each of the bonds over the period from end of June 2019 to the end of December 2019. Discuss your results. (7 marks)

C. Calculate the modified duration and modified convexity for an equally-weighted portfolio of the four bonds (25% weight for each bond) at both dates (that is, both at the end of June 2019 and the end of December 2019). Estimate the holding period return for the portfolio over the 6-month period between the two dates. Report on your findings. Compare and contrast the return and volatility of the portfolio and the separate bonds at both dates. Discuss your results. (7 marks)

(hint – the dirty prices you need for part A1 are found in an interim step in the duration calculation, no need to calculate them separately).

PART 2

A. Use all available Government bond data to construct and present a yield curve, spot curve and forward curve as at the end of June 2019 and the end of December 2019 (i.e. not just the four bonds in your portfolio, all bonds from table f16 except the indexed bonds). Your spot curve and forward curve estimation should go out no more than 5 years. Present and discuss your findings. (7 marks)

B. Review the predictive ability of the yield, spot and forward curves with comprehensive reference to the relevant academic literature. Discuss the curves that you have estimated in Part 1 (A) with reference to this literature. Does the June 2019 forward curve appear to predict the 6 month spot rates at December 2019? Comment. (12 marks)

 

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Geronimo is a 12-year-old boy lives in Melbourne, with asthma diagnosed at age 6. For the last 10 days Geronimo has been experiencing an upper respiratory tract infection with unresolved cough and breathlessness. He has been taking cough syrup but this has not improved his symptoms. He also had run out of his usual asthma medication salbutamol (2 puffs per night) for three days. It was late November and There was a huge thunderstorm two days ago.

Geronimo presented to hospital with an exacerbation of asthma. On presentation, he was speaking in phrases, his heart rate was 130 beats/minute, respiratory rate (RR) was 25 breaths per minute. His SpO2 was 94% on room air and he had an audible wheeze. His FEV1 was 1.64 L (55% of predicted).

Geronimo was administered salbutamol 100 µg 10 puffs via a pressurised metered dose inhaler and spacer and oral prednisolone 0.5mg/kg.

He responded relatively quickly to the treatment; his RR decreased to 21 breaths/minute and he could talk in paragraphs. He remained tachycardic but his FEV1 improved to 2.2 L (74% of predicted value), demonstrating a significant bronchodilator response of 34%.

His mother who was also present provided a history of Geronimos asthma. Both Geronimo and his mother initially reported that Geronimo was well until he caught a cold. However, when probing specifically about his asthma symptoms and overall control Geronimo acknowledged that he had difficultly playing sport especially during his soccer games on Saturdays; he wheezed and coughed when laughing, he avoided running around with his mates to prevent symptoms.

His mother reported that while he might have missed about 10 days of school in the last 12 months, due to a bad cough when he had colds, he was otherwise well apart from the normal cough he gets.

1. Describe the probable reasons for Geronimos acute exacerbation of asthma.

2. Based on the history provided by Geronimo and his mother, determine which classification of asthma Geronimos asthma fits.
3. Explain the results of his spirometry test. An arterial blood gas (ABG) testing is recommend by a junior doctor for Geronimo, do you agree with this suggestion?

4. Describe the different forms of asthma medication and when each should be used.

 

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What does this passage suggest a theme of the story will be? A. Making movies can be difficult. B. It’s peaceful and pretty in the country. C. We should make visitors feel welcome. D. People’s privacy and dignity should be respected.

 

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Which two are ways of generating ideas for a written message.I. Taking notesII. Asking questionsIII. Making an outlineIV. Asking an expert what you should writeV. Reading a book about writing

 

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