NO.PZ2019122802000027
问题如下:
Which of the following asset will outperform when economy slows and inflation becomes low?
选项:
A.Private equity
Real estate
Government bonds
解释:
C is correct.
Government bonds belongs to deflation-hedging assets. When economy slows and inflation becomes low, it will outperform than other assets.
当经济不好的时候,大多数资产都会下跌,特别是风险资产,这时候理性的选择都是避免风险,选择安全的资产,所以导致的结果是进一步加大风险资产的下跌,使安全的资产的升值。而国债就是典型的安全资产,因为有政府信用做背书。
government bond是deflation的时候用吧?
inflation below expectation表现好的是cash和real estate