问题如下:
Dynamo is changing the bond portfolio’s investment constraints so that it can invest up to 20% of the assets in high-yield corporate bonds and 20% in structured financial instruments. Easton makes the following statement about these changes:
Liquidity and trading issues for high-yield bonds, such as investment-grade bonds, will be a key consideration in our security selection. Although both high-yield and investment-grade bonds are quoted as spreads over benchmark government bonds, we must be aware that dealers are likely to hold larger inventories of high-yield bonds and their bid–offer spreads will be larger.
Which of Easton’s statements about the liquidity and trading characteristics of high-yield and investment-grade bonds is most correct?
选项:
A. Dealers generally hold larger inventories of high-yield bonds than investment-grade bonds.
B. Both high-yield and investment-grade bonds are quoted as spreads over benchmark government bonds.
C. The bid–offer spread of high-yield bonds is normally larger than that of investment-grade bonds with similar maturities.
解释:
C is correct.
Bid–offer spreads are larger for high-yield bonds than for investment-grade bonds of similar maturity.
A在哪错的 麻烦解释一下