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I would like to simulate the Yield Curve and Yield Curve changes and then use this data to evaluate bond hedging strategies. I certainly need a model like Nelson-Siegel, but how can I simulate changes in a model and how can I get the data from the model, so I can use it for my hedging analysis. Thanks for any help / advice!

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Nelson-Siegel is a static analysis, but you can use Diebold Li's approach. Check out Forecasting the term structure of government bond yields (2005), Francis X. Diebold, Canlin Li. Basically, they use the fact that the factors can be interpreted as level, slope and curvature, and then use autoregressive models to make the curve evolve in time.

Apart from that, because you want to evaluate bond strategies, simple short rate models will probably not give you enough information on the curve shape, but if you feel brave enough, you can try to use a multi factor HJM model to simulate a term structure throught time

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