explicit back by gov不是quasi吗？强化讲义里有写

问题如下：

A bond issued by a local government authority, typically without an explicit funding commitment from the national government, is most likely classified as a:

选项：

sovereign bond.

quasi-government bond

non-sovereign government bond.

解释：

C is correct.

Bonds issued by levels of government below the national level—such as provinces, regions, states, cities, and local government authorities—are classified as non-sovereign government bonds. These bonds are typically not guaranteed by the national government.