NO.PZ2023040701000114
问题如下：
With respect to the credit quality of UNAB, Watt makes the following statement:
"There is severe near-term stress in the financial markets and UNAB's credit curve clearly reflects the difficult environment."
According to Watt's statement, the shape of UNAB's credit curve is most likely
选项：
A.flat
upward-sloping
downward-sloping
解释：
Correct Answer: C
A downward-sloping credit curve implies a greater probability of default in the earlier years than in the later years. Downward-sloping curves are less common and often are the result of severe near-teen stress in the financial markets.
A is incorrect because a flat credit curve implies a constant hazard rate (relevant probability of default). B is incorrect because an upward-sloping credit curve implies a greater probability of default in later years.
There is severe near-term stress in the financial markets and UNAB's credit curve clearly reflects the difficult environment.
我理解这句话是说近期处于危机之中，信用曲线反映了艰难的市场环境。
意味着现在处于经济危机之中，那不就是信用曲线向上倾斜吗？向下倾斜意味着未来经济会变好，从题干中哪句话可以看到未来经济变好？
