Yield curve strategy and Money duration

CFA Level III Fixed Income
#1

Example 6 and EOC 11 – How do they find money duration?

For BB 6, we are given PVBP per million = 1,972 for 30 year. We are give a maximum position of 100M. From this, somehow they get money duration = 197,200. I understand they did 1,972 x 100 = 197,200. But why does money duration = PVBP per million x MV.

I thought Money Duration = Modified Duration * Market Value * 0.01

For EOC 11, we are given PVBP per million = 1,960 for long term. We are given maximum position is 150M. From this, somehow they get money duration = 294,000.

I do not understand how they get money duration for either question.

Thanks

#2

Money duration = duration × market value.

#3

I was dividing by 100 when I did exam first. Very weird. I read other posts but now this post makes easy. Wish I read this before

#4

Thank you

#5

My pleasure.