NO.PZ202305230100003801
问题如下:
Which level of coupon would the Swiss government choose if its goal is to minimize the premium over par value for a five-year debt issue?
选项:
A.
1.0%
B.
0.5%
C.
0.0%
解释:
C is correct. Given that Switzerland’s current five-year spot (and par) rate is negative, any non-negative coupon will cause the Swiss government to issue debt at a premium to par. Issuance of debt without a coupon will minimize the size of the premium.
这个解析没看懂,麻烦能解释一下吗?