问题如下:
Marie Co. plans to issue a long-term debt in next few days. The management notice that central bank releases a signal of tight monetary policy and the interest rate is expected to increase. Which type of bond will benefit the Marie Co. most?
选项:
A.A step-up coupon bond.
B.An inflation-linked bond.
C.A floating-rate bond with cap rate.
解释:
C is correct.
The cap of floating rate bond can limit the upper level of coupon payment. Therefore it can protect the issuer from increasing interest rate. Both step-up and inflation-linked bond will be preferred by bondholders not the issuer under the increasing interest rate condition.
老师,市场利率上升,通胀不是会下降吗。为什么通胀挂钩的债券和浮动利率的债券效果一样呢?