开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

小马8926 · 2022年03月22日

No.PZ2021120102000033 (选择题)

No.PZ2021120102000033 (选择题)

来源: 原版书

An active fixed-income manager is evaluating the relative performance of an investment-grade corporate versus a high-yield corporate debt allocation in a fixed-income portfolio.

Which of the following analytical model assumption changes is most likely to reduce the future value of the high-yield portfolio relative to the investment-grade holdings?

您的回答C, 正确答案是: C

A

Steepening of the benchmark yield volatility curve.

B

Decreased likelihood of an economic slowdown.

C

Increased likelihood of a flight to quality associated with bullish benchmark yield curve flattening (long-term rates fall by more than short-term rates do).


请问下A为什么不对?

1 个答案
已采纳答案

pzqa015 · 2022年03月22日

嗨,努力学习的PZer你好:


steepen of benchmark yield volatility curve收益率波动率曲线变陡峭,它代表短期风险在变小,也就是经济正在变好,所以HYB比IG更好。如果是steepen of benchmark yield curve,代表收益率曲线变陡峭,即短期利率相对于长期在下降,此时是经济陷入衰退,那么IG比HYB更好。

----------------------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

  • 1

    回答
  • 3

    关注
  • 909

    浏览
相关问题