NO.PZ201812020100000503
问题如下：
An upward shift in the yield curve on Strategy 2 will most likely result in the:
选项：
A.price effect cancelling the coupon reinvestment effect.
B.price effect being greater than the coupon reinvestment effect.
C.coupon reinvestment effect being greater than the price effect.
解释：
A is correct.
An upward shift in the yield curve reduces the bond’s value but increases the reinvestment rate, with these two effects offsetting one another. The price effect and the coupon reinvestment effect cancel each other in the case of an upward shift in the yield curve for an immunized liability.
老师，我想问一个关于表述方面的理解：
"upward shift in yield curve " 是指收益率曲线平行移动吗？
见过很多种表述，比如shift, parallel shift, unparallel shift, upward shift, downward shift...
parallel shift, unparallel shift当然可以直接判断平行移动还是非平行移动
那如果是shift, upward shift, downward shift这些呢？如何从表述中判断是平行移动还是非平行移动？
