NO.PZ2020042003000080
问题如下:
Yield curves provide a clue about
overpriced and underpriced securities, Security A and B have the same
investment risks. If security A’s yield lies below the current yield and
security B’s yield lies above the current yield, which of the following
statement is correct?
选项:
A. Security A is currently undervalued, and
security B is currently overvalued
Security A is currently overvalued, and
security B is currently undervalued
Both Security A and Security
B is currently overvalued
Both Security A and Security B is currently undervalued
解释:
考点:对Maturity Management Tools的理解
答案:B
解析:
Security A的收益率在current
yield下方,代表Security A相对被高估,Security
B的收益率在Current yield的上方,代表Security
B相对被低估。
理论上yield高应该代表它present value低啊,就像中债估值高证明这个债券不值钱