PLEASE NOTE: THIS QUESTION HAS BEEN POSTED BEFORE BUT A WRONG ANSWER WAS PROVIDED. PLEASE DO...

PLEASE NOTE: THIS QUESTION HAS BEEN POSTED BEFORE BUT A WRONG ANSWER WAS PROVIDED. PLEASE DO NOT COPY THAT ANSWER AND PASTE IT HERE AGAIN. I WOULD APPRECIATE A FRESH ATTEMPT. HERE IS THE QUESTION:

'The conclusion is that the more convex bond outperforms the less convex bond'.

Explain this statement with the help of a diagram. Your answer should include a brief definition of ‘convex’ in this context.

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