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For an option-free bond, which of the following are the effects of the convexity adjustment on the magnitude (absolute value) of the approximate bond price change in response to an increase in yield and in response to a decrease in yield, respectively?
A
Increase in magnitude | Decrease in magnitude
B
Increase in magnitude | Increase in magnitude
C
Decrease in magnitude | Decrease in magnitude
D
Decrease in magnitude | Increase in magnitude