NO.PZ2018113001000069
问题如下:
Which of the following statements is not true regarding the currency management?
选项:
A.The more bond exposure are held in a
foreign-currency portfolio, the less hedging is needed
The shorter the investment horizon, the more
hedges are needed
The more risk averse investors are, the more
they need to hedge
解释:
A is correct
中文解析:
本题考察的是需要更多的进行hedge的几种情况:
当投资期限越短,投资者的风险厌恶程度越高,以及投资的债券比重更高的时候,都需要更多的进行对冲。因此只有A选项的表述是错误的,所以选A。
利率提高,bond price下降;
利率提高,会吸引更多资金投本国,Rfx汇率提高,这不是说明很好的自然对冲效果吗?