问题如下:
Investors who believe that interest rates will rise most likely prefer to invest in:
选项:
A.inverse floaters.
B.fixed-rate bonds.
C.floating-rate notes.
解释:
C is correct.
In contrast to fixed-rate bonds that decline in value in a rising interest rate environment, floating-rate notes (FRNs) are less affected when interest rates increase because their coupon rates vary with market interest rates and are reset at regular, short term intervals. Consequently, FRNs are favored by investors who believe that interest rates will rise.
A is incorrect because an inverse floater is a bond whose coupon rate has an inverse relationship to the reference rate, so when interest rates rise, the coupon rate on an inverse floater decreases. Thus, inverse floaters are favored by investors who believe that interest rates will decline, not rise. B is incorrect because fixed rate-bonds decline in value in arising interest rate environment. Consequently, investors who expect interest rates to rise will likely avoid investing in fixed-rate bonds.
老师,利率要涨,不是买固定的或者反向的债券更安全吗