NO.PZ202209060200004304
问题如下：
Is the footnote Moynahan includes on page 4 most likely correct?选项：
A.Yes. B.No, with respect to bond prices. C.No, with respect to roll down return.解释：
SolutionC is correct. The footnote Moynahan includes on page 4 is incorrect with respect to roll down return. The roll down return is equal to the bond’s percentage price change assuming an unchanged yield curve over the strategy horizon. The roll down return results from the bond “rolling down” the yield curve as the time to maturity decreases. As time passes, a bond’s price typically moves closer to par.
A is incorrect. Moynahan’s footnote regarding the yield curve is not accurate.
B is incorrect. Moynahan’s footnote with respect to bond prices is accurate.
这道题说regardless of yield curve change,不就是跟答案里"assuming unchanged yield curve是一个意思吗？
另外，““rolldown and carry return,” results
from the bond “rolling down” the yield curve as the time to maturity decreases”，这个意思是，越接近到期日，rolldown return越低的意思吗？
