From the news: The State of North Rhine-Westphalia issued its largest 100-year bond
January 7, 2021 On January 5, the State of North Rhine-Westphalia issued its largest 100-year bond despite a yield of less than 1%.
Barclays, Deutsche Bank, HSBC, JP Morgan, and Nomura were bookrunners.
A few more details: The coupon rate is 0.95%, the bond matures in 2121. For simplicity, assume that the coupons are annual, and you bought the bond at face value. FV=$100,000,000. There are 100 coupons remaining.
Suppose that the YTM increases from 0.95% to 1.20%. Use the %change formula in the slides. What will be the % change in the value your portfolio? Assume that the duration of the bond is 64.98.