NO.PZ201701230200000304
问题如下：
4. The most appropriate response to Madison’s question regarding the spread measure is the:
选项：
A.Z-spread.
B.Treasury-Eurodollar (TED) spread.
C.Libor-OIS (overnight indexed swap) spread.
解释：
B is correct.
The TED spread, calculated as the difference between Libor and the yield on a T-bill of matching maturity, is an indicator of perceived credit risk in the general economy. An increase (decrease) in the TED spread signals that lenders believe the risk of default on interbank loans is increasing (decreasing). Therefore, the TED spread can be thought of as a measure of counterparty risk.
B选项的TED spread不也是反映银行体系的风险吗，和C的功能到底有什么区别，我看课上讲的，和题目里面的答案，貌似有很大出入，似乎是LIBOR不用了的原因？有没有一个结论性的东西，这两个到底现在代表什么风险
