NO.PZ202206070100000301
问题如下：
Of Kumar’s three points regarding interest rate linkages among countries proposed for the new fund, she is least likely correct with respect to bond yields in:选项：
A.Singapore and Sweden.
B.Denmark.
C.Chile.
解释：
Solution
B is correct. Kumar’s second point regarding Danish bonds is incorrect. When two currencies are pegged or linked, the bond yields of the country with the weaker currency are likely to rise higher unless the market is confident that the government will maintain the peg.
C is incorrect. Kumar’s first point regarding Chilean bonds is a true statement. If a country’s exchange rate is severely undervalued and is expected to rise substantially against another country’s, then bond yields in the first country will be lower than they would otherwise be in relation to the other country. Since Chile’s exchange rate relative to Great Britain’s is undervalued, we would expect the Chilean bond yields to be lower than they should be as compared to the yields on the British bonds.
A is incorrect. Kumar’s third point with respect to Singapore and Sweden is a true statement. Although real yields can vary, they can and do tend to move together.
题目考察的是利率与汇率的关联。Kumar关于丹麦债券的第二点论述是错误的。当两种货币挂钩或联系时，货币较弱的国家的债券收益率可能会上升，除非市场坚信政府将维持汇率盯住制度。
C是错误的。因为Kumar关于智利债券的第一点是对的。如果一个国家的汇率被严重低估，并且预计其相对于另一个国家的汇率将大幅上升，那么前者的债券收益率目前是比较低的。由于智利相对于英国的汇率被低估，我们预计智利的当前债券收益率低于其相对于英国债券收益率的应有水平（言外之意，应该更高才对）。
A是错误的。因为Kumar关于新加坡和瑞典的第三点论述是错误的。尽管实际收益率可能有所不同，但它们可以倾向于共同波动。
请问为什么货币较弱的国家，债权收益率上升呢？
