NO.PZ201812020100000502
问题如下:
Which duration measure should be matched when implementing Strategy 2?
选项:
A.Key rate
B.Modified
C.Macaulay
解释:
C is correct.
An investor having an investment horizon equal to the bond’s Macaulay duration is effectively protected, or immunized, from the first change in interest rates, because price and coupon reinvestment effects offset for either higher or lower rates.
coupon-bearing bonds是什么?