NO.PZ2023040701000070
问题如下：
Pedu’s chief economist recently distributed an interest rate forecast stating that the yield curve, which is currently flat, is expected to become upward sloping. Krishnan considers the impact of these expected changes on the values of the bonds in Exhibit 1.
If the shape of the yield curve changes in the way predicted in the chief economist's interest rate forecast and the price of Bond A does not change, the price of Bond C will most likely:
选项：
A.
increase.
B.
not change.
C.
decrease.
解释：
Correct Answer: A
As the yield curve moves from flat to upward sloping, the value of the put option embedded in Bond C will increase. Because the value of a putable bond is the value of the otherwise identical option-free bond plus the value of the put option, the value of Bond C will increase.
bond A价格不变这个条件可以推测出yield curve的变化吗？比如，这是否说明长期收益率不变、短期收益率变低？如果是的话，那长期来看对put option会有影响吗？
