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金融民工阿聪 · 2021年05月02日

In the 2008 episode, investment grade declines by much less than high-yield bonds, while it had large decline in 2020.

NO.PZ2021030502000015

问题如下:

Which of the following statement of the difference between Covid-19 crisis and Great Financial crisis of 08-09 is not correct ?

选项:

A.In the 2008 episode, high-yield bonds closely track the stock market. And high-yield bonds also had large decline in 2020 B.Extremely high speed at which asset price movements in 2020. And the policy response in 2008 was slower than that in 2020. C.In terms of magnitude, the COVID-19 2020 decline in prices is much heavier than the worst historical Great Financial Crisis of 2008-2009. D.In the 2008 episode, investment grade declines by much less than high-yield bonds, while it had large decline in 2020.

解释:

C is correct

In terms of magnitude, the March 2020 decline in prices is comparable to the worst historical Great Financial Crisis of 2008-2009. 这两次危机价格跌幅是差不多的。所以C选项是错误的。

在2020年的时候,投资机债券都大幅下降,比2008年还下降的多,这是为什么?

2 个答案
已采纳答案

小刘_品职助教 · 2021年05月02日

同学你好,

这句话的意思是2020投资级债券的跌幅比高收益还要大,主要原因是在2020年疫情前,高收益债市场其实就不好,已经能反应基本面的恶化了。疫情发生之后,所有企业的信用风险都面临了很大的考验,所以投资级债券出现了很大的下跌。

小刘_品职助教 · 2021年05月03日

同学你好,

因为2008年市场当时是对高收益债券过度狂热了,相对来说投资级债券投资相对理性,所以高收益债券受到损害的情况更大,投资级相对来说还好。