NO.PZ2018123101000103
问题如下：
Steele Ferguson, a senior analyst at Samuel, is reviewing three fixed-rate bonds issued by a local firm, Pro Star, Inc.
The bond that would most likely protect investors against a significant increase in interest rates is:
选项：
A.
Bond #1.
B.
Bond #2.
C.
Bond #3.
解释：
The bond that would most likely protect investorsagainst a significant increase in interest rates is the putable bond, i.e.,Bond #3. When interest rates have risen and higher-yield bonds are available, aput option allows the bondholders to put back the bonds to the issuer prior tomaturity and to reinvest the proceeds of the retired bonds in higher-yieldingbonds.
上一题是利率下降的背景下putable的债券会有上升潜力，这一题是利率上升的情况，还是选putable，那是不是无论利率上升下降，对投资者有利的都会是putable，对发行者有利的都会是callable？
