Long-term bonds usually have higher convexity, which means their prices are less sensitive to interest rate changes.

convexity 是名词，来自形容词 convex（凸面的），加上名词后缀 -ity 构成。convex 本身来自拉丁语 convexus（弯曲的、拱起的）。在金融领域，convexity 特指债券价格与收益率之间关系的曲率程度，即"凸度"，用来衡量债券价格对利率变化的敏感度。