convexity 判断

问题如下：

Which of Donaldson’s statements is correct?

选项：

Only Statement 1

Only Statement 2

Both Statements 1 and 2

解释：

B is correct.

Statement 2 is correct: If yields rise, a portfolio of a given duration with higher convexity will experience less of a price decrease than a similar-duration, lower-convexity portfolio. Statement 1 is incorrect, as portfolios with larger convexities often have lower yields. Investors will be willing to pay for increased convexity when they expect yields to change by more than enough to cover the sacrifice in yield.

这种题目怎么判断是已经持有了bond还是没有持有呢？