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IIIIIIIIIIIIIIIIII · 2020年08月02日

问一道题:NO.PZ2019103001000076

问题如下:

Gerber is preparing for the annual meeting with one of the firm’s largest clients. The client wants to explore more international credit investing. Gerber anticipates that the client will ask about differences between investing in emerging markets (EM) credits and developed markets credits. To address this potential inquiry, Gerber plans to emphasize the following differences.

Difference 1: Commodity producers and banks represent a higher proportion of EM indexes than of developed market indexes.

Difference 2: Total or partial government ownership of EM issuers is common, which results in a higher average recovery rate for defaulted senior unsecured bonds for EM markets than for developed markets.

Difference 3: Compared with developed markets, the credit quality of EM issuers tends to be more concentrated at the very high and very low portions of the credit spectrum.

Which of Gerber’s three differences about investing in EM credits compared with developed market credits is most correct?

选项:

A.

Difference 1

B.

Difference 2

C.

Difference 3

解释:

A is correct.

EM indexes have a higher proportion of commodity producers and banks than developed market indexes have.

请问,Difference 2 ,哪里错了?谢谢

大鱼 · 2020年10月20日

同问,感觉没有解释清楚,第二点哪里错了?

1 个答案
已采纳答案

WallE_品职答疑助手 · 2020年08月02日

同学你好,

选项2中“results in a higher average recovery rate for defaulted senior unsecured bonds for EM markets than for developed markets.”

因为新兴市场的RR 也是会比发达市场要高,评级也会更低。就像俄罗斯之前国债违约RR就直接为0了,没有任何赔付,而美国就不会违约。

另外同学告诉你一个快速了解课后题答案的方法,因为你是全线班学员,你可以去听原版书习题课后对应的这一题,老师都有详细的讲解,建议你做完一道大题后,可以去对应的reading里面听讲解。

这么做的好处是,不用等待回复答案的时间哟,而且老师用视频讲的方式比打字解释的更清楚哈~。

IIIIIIIIIIIIIIIIII · 2021年05月31日

谢谢解答