想了解更多OTM 及ITM对于CB的影响-有问必答-品职教育专注CFA ESG FRM CPA 考研等财经培训课程

NO.PZ2018123101000085 问题如下 In light of recent poor employment figures antwo consecutive quarters of negative G growth, the consensus forecast among economists is ththe centrbank, its next meeting this month, will take actions thwill leto lower interest rates. Exhibit below shows four fixerate investment-gra bon issueAlpha Corporation whiare being consirefor investment. Note: All bon in Exhibit 2 have remaining maturities of exactly three years Assuming the forecast for interest rates is proven accurate, whibonin Exhibit above will likely experienthe smallest priincrease? Bon1 Bon3 Bon4 C is correct.考点考察对含权债券的理解解析经济预测是利率下降。在利率下降的环境中，任何债券的价值都应该上升，只不过当利率下降时，不同含权债券的表现不同。当利率下降时，债券4 （ Callable ）中的Embeecall option的价值会增加，由于该期权为发行人持有的期权，因此Embeeoption价值的上升会对Callable bon价格产生相反的影响，会抵消掉部分利率上升带来的债券价格上涨。因此Callable bon利率下降时，上升的幅度最小。老师我想问下，这题中利率上升，所以是不是可以理解为bon和bon 最后价值是相等的，value of put option因为利率上升会下降。value of putable bonvlaue of stright bon这样理解对么，谢谢。

2024-11-17 09:40 1 · 回答

NO.PZ2018123101000085 问题如下 In light of recent poor employment figures antwo consecutive quarters of negative G growth, the consensus forecast among economists is ththe centrbank, its next meeting this month, will take actions thwill leto lower interest rates. Exhibit below shows four fixerate investment-gra bon issueAlpha Corporation whiare being consirefor investment. Note: All bon in Exhibit 2 have remaining maturities of exactly three years Assuming the forecast for interest rates is proven accurate, whibonin Exhibit above will likely experienthe smallest priincrease? Bon1 Bon3 Bon4 C is correct.考点考察对含权债券的理解解析经济预测是利率下降。在利率下降的环境中，任何债券的价值都应该上升，只不过当利率下降时，不同含权债券的表现不同。当利率下降时，债券4 （ Callable ）中的Embeecall option的价值会增加，由于该期权为发行人持有的期权，因此Embeeoption价值的上升会对Callable bon价格产生相反的影响，会抵消掉部分利率上升带来的债券价格上涨。因此Callable bon利率下降时，上升的幅度最小。老师您好，请问下这个利率下降对bon3 影响是？

2023-04-17 10:56 2 · 回答

NO.PZ2018123101000085 问题如下 In light of recent poor employment figures antwo consecutive quarters of negative G growth, the consensus forecast among economists is ththe centrbank, its next meeting this month, will take actions thwill leto lower interest rates. Exhibit below shows four fixerate investment-gra bon issueAlpha Corporation whiare being consirefor investment. Note: All bon in Exhibit 2 have remaining maturities of exactly three years Assuming the forecast for interest rates is proven accurate, whibonin Exhibit above will likely experienthe smallest priincrease? Bon1 Bon3 Bon4 C is correct.考点考察对含权债券的理解解析经济预测是利率下降。在利率下降的环境中，任何债券的价值都应该上升，只不过当利率下降时，不同含权债券的表现不同。当利率下降时，债券4 （ Callable ）中的Embeecall option的价值会增加，由于该期权为发行人持有的期权，因此Embeeoption价值的上升会对Callable bon价格产生相反的影响，会抵消掉部分利率上升带来的债券价格上涨。因此Callable bon利率下降时，上升的幅度最小。如果利率上升，对putable bon价格的影响呢

2022-08-13 07:43 1 · 回答

NO.PZ2018123101000085 可以用ration的概念去解答吗因为利率下行，所以call使用的概率增大，即其的ration会减小，而最小的r对利率变动更不敏感，所以是callable bon价格变化最小

2021-10-21 08:15 1 · 回答

想了解更多OTM 及ITM对于CB的影响

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