The article discusses a method for managing risks related to interest rates using a two-factor model. This model considers two main factors - the long-term interest rate and the difference between long-term and short-term rates. New measures are introduced to help manage market and yield curve risks, allowing for the calculation of hedging ratios to protect bond portfolios using bond options. These measures can help protect bond portfolios from changes in the yield curve. Additionally, the article proposes a solution to the limitations of traditional duration measures using these new methods.