An investment manager is considering an incremental position in a callable, putable, or option-free bond with otherwise comparable characteristics. If she expects a downward parallel shift in the yield curve, it would be most pro table to be:
a long a callable bond.
b short a putable bond.
c long an option-free bond.
老师，答案选了C
但是利率下滑，价格上升，不应该long callable bond嘛，此时最有利。
同理，价格下降，long putable bond
不知道为啥答案选了C
谢谢老师
