Hi, having some job interviews: why is notionalDV01bps = PnL on a corporate? How do you calc for UST? Can you just do I buy 100 bonds, the price goes from 99-25 to 99-26 so i make 1/32 * 100?

1st pass you would think "if i make 1/32nd...thats my P&L" and while that is technically true...you will rarely be outright long or short just one bond position. Most often, you will be long x vs short y vs long z...etc..and the default interest rate risk you want is flat to the level of interest rates.

Fixed Income: How to Calculate PnL and Why

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just google it...you're welcome

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Fixed Income: How to Calculate PnL and Why

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