NO.PZ2016010802000140
问题如下：
When the spread between 10-year US Treasury yields and the federal funds rate narrows and at the same time the prime rate stays unchanged, this mix of indicators most likely forecasts future economic:
选项：
A.growth.
B.decline.
C.stability.
解释：
B is correct.
The narrowing spread of this leading indicator foretells a drop in short-term rates and a fall in economic activity. The prime rate is a lagging indicator and typically moves after the economy turns.
考点： economic indicators
解析：息差收窄，表明经济将要衰退。基准利率是一个滞后指标，通常在经济好转后才会变动。将两者结合可知，经济将要出现下行。
课上说是credit spread增加，代表信用变差，风险变高，经济变差。
