NO.PZ2021071301000012
问题如下：
If stock index begins to rise, interest rate spread between 10-year treasury yield and overnight borrowing rates is getting wider.
Which of the following statements is most likely correct ?
选项：
A.The economy is getting weaker.
B.The economy is getting stronger.
C.Consumers tend to decrease spending.
解释：
B is correct.
Both stock index and interest rate spread between 10-year treasury yield and overnight borrowing rate are leading indicators.
Increased stock price and wider interest rate spread indicates a stronger economy,at the same time , people increases their spending
考点：Economic Indicators
解析：大盘股指以及债券利差都是领先型的指标
大盘股指的上涨以及10年期国债与隔夜债利率利差的增加都预示着经济的走强。所以B选项正确。
和老师上课讲Interest rate spread= long-term interest rate减去short-term interest rate
而 long-term interest rate反映的是market expectation about short-term interest rate【老师能帮着再解释一下这一点吗？】，当spread上升的时候，long-term rate 上升，short-term rate 下降，这里为什么会下降呢？既然对短期利率的信心上升了，那为什么short term rate本身会下降呢？
