Duration-Only Price Sensitivity, Second Instance

The duration approximation is $\%\Delta P\approx -D\Delta y$.

Convert 25 basis points to 0.0025 before multiplying.

1. 1. Apply the duration approximation

   $\%\Delta P\approx -D\Delta y=-6\times 0.0025$.

   $$-6\times 0.0025=-0.015$$

2. 2. Conclude

   The bond price falls by approximately $1.5\%$.

Answer: -1.5%