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扑扑扑 · 2021年01月24日

这题完全不知道选哪个。。请问哪课有学过呀?

问题如下:

Which type of sovereign bond has the lowest interest rate risk for an investor?

选项:

A.

Floaters

B.

Coupon bonds

C.

Discount bonds

解释:

A is correct.

Floaters are bonds with a floating rate of interest that resets periodically based on changes in the level of a reference rate, such as Libor. Because changes in the reference rate reflect changes in market interest rates, price changes of floaters are far less pronounced than those of fixed-rate bonds, such as coupon bonds and discount bonds. Thus, investors holding floaters are less exposed to interest rate risk than investors holding fixed-rate discount or coupon bonds.

这题完全不知道选哪个。。请问哪课有学过呀?

2 个答案
已采纳答案

吴昊_品职助教 · 2021年01月25日

同学你好:

这道题建议我们直接从久期的角度来考虑,因为duration代表的是债券价格对于利率变化的敏感程度。题目让我们选出利率风险最低的风险,换句话就是选出duration最小的债券。浮动利率的久期为重置期的一半,接近零。因此浮动利率债券的利率风险最小。

看到利率风险就要联想到久期。后面有一个reading会重点讲解duration(久期)的概念,这道题可以先放一放,等学完后面的reading就可以做了。

Michelle戀 · 2021年02月07日

你好,想问coupon bond就是plain vanilla bond?

吴昊_品职助教 · 2021年02月07日

同学你好:

是的。解释中有:fixed-rate bonds, such as coupon bonds。

plain vanilla bond,固定利率债券,期间支付固定的票息,到期归还本金。

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NO.PZ2017121002000006 问题如下 Whitype of sovereign bonhthe lowest interest rate risk for investor? A.Floaters B.Coupon bon C.scount bon A is correct.Floaters are bon with a floating rate of interest thresets periocally baseon changes in the level of a referenrate. Because changes in the referenrate reflechanges in market interest rates, prichanges of floaters are fless pronounceththose of fixerate bon, sucoupon bon anscount bon. Thus, investors holng floaters are less exposeto interest rate risk thinvestors holng fixerate scount or coupon bon.考点利率风险解析本题建议直接从久期的角度来考虑,因为ration代表的是债券价格对于利率变化的敏感程度。题目让我们选出利率风险最低的风险,换句话就是选出ration最小的债券。浮动利率的久期为重置期的一半,接近零。因此浮动利率债券的利率风险最小,故A正确。 老师您好,我已经学过久期这个章节。但是对“浮动利率的久期为重置期的一半,接近零”还是无法理解。问题一(1)可以请老师详细的展开一下这句话吗?问题二(2)浮动债券的久期如何计算?未来现金流不确定的情况下,浮动债券的是否无法用修正久期计算?那么应该如何计算呢

2023-07-01 15:07 1 · 回答

Coupon bon scount bon A is correct. Floaters are bon with a floating rate of interest thresets periocally baseon changes in the level of a referenrate, suLibor. Because changes in the referenrate reflechanges in market interest rates, prichanges of floaters are fless pronounceththose of fixerate bon, sucoupon bon anscount bon. Thus, investors holng floaters are less exposeto interest rate risk thinvestors holng fixerate scount or coupon bon.scount boun什么?讲义里有讲过么?

2020-10-03 19:18 1 · 回答

Coupon bon scount bon A is correct. Floaters are bon with a floating rate of interest thresets periocally baseon changes in the level of a referenrate, suLibor. Because changes in the referenrate reflechanges in market interest rates, prichanges of floaters are fless pronounceththose of fixerate bon, sucoupon bon anscount bon. Thus, investors holng floaters are less exposeto interest rate risk thinvestors holng fixerate scount or coupon bon.因为floaters 是随着market interest rate 变化而变化,不考虑interest rate 的volability,所以是low risk。老师 请问这一题我可以这么考虑吗?

2020-09-25 10:17 1 · 回答

A是浮动利率债券。浮动利率的久期为重置期的一半,接近零。Floater’s ration is half of reset perio因此浮动利率债券的利率风险最小。 老师 答案里的ration 视频里何老师没有提及 应该怎么理解?

2020-02-07 21:31 1 · 回答