spread跟评级有关系吗

NO.PZ202208160100000203 问题如下 NexrEnterprises Case ScenarioBarkley Carlisle wrecently hireassociate analyst in the corporate finanpartment NexrEnterprises. Nexris a US manufacturer of heavy instriequipment thsells its procts globally. Carlisle assists finanrector Jennifer Brannigin managing Nexran’s foreign currenrisk. part of the training process concerning the complexities of the foreign exchange (FX) markets, Brannigprovis Carlisle with Exhibit 1 anasks him to monstrate his familiarity with some calculations, sutriangularbitrage anexpectefuture spot rates. A few ys later, BranniganCarlisle meet to scuss the results of his work.Exhibit 1 Interbank CurrenQuotes anMarket ReferenRates (MRR)After reviewing the calculations, Brannigasks Carlisle whfactors termine the bioffer sprea Nexrmface. Carlisle makes the following statements: The conversation then moves to a scussion of some recent Nexrtransactions. Six months ago, a Europecustomer placeorr for EUR 20 million of oil fielconstruction equipment with livery anpayment scheleto take plaone yelater. Nexrheeall of its exposure to the euro entering into a forwarposition a forwarpriof US.1716/EUR.Nexrhjust been informethe customer thbecause of the collapse in oil prices, it is canceling the orr. Brannigtells Carlisle to mark the forwarposition to market to facilitate exiting the currenhee. (Exhibit 2 provis information about current FX rates aninterest rates.)Exhibit 2 Six-Month ForwaranMRRThe next transaction consireis a recently signemultiyecontrawith a customer locatein the country of Morlunn. Nexrwill sell 25 pieces of equipment per yea fixeprice, with the sale pricein the Morlunn poun Morlunn ha floating exchange rate, ancapitflows are highly mobile. Morlunn also hexpansionary monetary poliwith a restrictive fiscpolicy. Brannigasks Carlisle to termine the appropriate action Nexrshoultake to manage its Morlunn currenrisk baseon thcountry’s economic policies.a finitem, Brannigexplains the impaof the balanof payment flows on exchange rates. She notes thin recent years, Nexrsola sizable portion of its procts to the Trunol Republia country this running large current account surpluses versus the UniteStates. Nexran’s sales to the Trunol Republic are expecteto a major component of the company’s future totsales. Consequently, Brannigbelieves Nexrshoulhee against a potenticline in the USrelative to the TRbecause she is concerneththe Trunol Republic mci to reits USnominateassets.Question Whiof Carlisle’s statements about bioffer sprea is the most accurate? A.The statement regarng market liquity B.The statement regarng pricing on large tras C.The statement regarng Nexran’s cret rating SolutionC is correct. A client’s cret risk ca factor because a client with a poor cret profile mquotea wir bioffer sprethone with goocret, reflecting the greater settlement risk.A is incorrect. The interbank FX markets are most liquiwhen the major FX trang centers are all open. The two largest, Lonn anNew York, overlfrom approximately 8:00–11:00 a.m. NY time. such, the interbank market for most currenpairs is typically most liquiring those hours, whiis well after the open in Lonn.B is incorrect. Transaction size caffethe bioffer sprea Typically, the larger the transaction, the further awfrom the current spot exchange rate the aling price. Wir sprea on larger tras reflethe greater fficulty the aler faces in “laying off” the FX risk in the interbank market. 我看了另一位同学的提问与助教的解答 https://class.pzacamy.com/qa/117992 ，若sprea小是与企业信用评级有关，那为啥原版书课后题第四小题是说company's cret rating is least likey to a narrow bioffer sprea

NO.PZ202208160100000203 问题如下 Whiof Carlisle’s statements about bioffer sprea is the most accurate? A.The statement regarng market liquity B.The statement regarng pricing on large tras C.The statement regarng Nexran’s cret rating SolutionC is correct. A client’s cret risk ca factor because a client with a poor cret profile mquotea wir bioffer sprethone with goocret, reflecting the greater settlement risk.A is incorrect. The interbank FX markets are most liquiwhen the major FX trang centers are all open. The two largest, Lonn anNew York, overlfrom approximately 8:00–11:00 a.m. NY time. such, the interbank market for most currenpairs is typically most liquiring those hours, whiis well after the open in Lonn.B is incorrect. Transaction size caffethe bioffer sprea Typically, the larger the transaction, the further awfrom the current spot exchange rate the aling price. Wir sprea on larger tras reflethe greater fficulty the aler faces in “laying off” the FX risk in the interbank market. 伦敦和纽约难道不是同时开市吗？伦敦开了就意味纽约开了。