NO.PZ2022122601000013
问题如下：
In forecasting the Danish bonds’ expected rate of return, Perumal notices that Denmark is facing negative short-term rates. He wonders if negative short-term rates will impact market relationships and complicate traditional ways of forecasting rates. Perumal consults Josh Knight, a senior rate strategist at the firm. Knight makes the following general statements about negative interest rates and their implications.
Statement 1: To calculate the expected rate of return of Danish bonds, the observed negative short-term rates shouldn’t be used as the risk-free rate.
Statement 2: For countries facing negative short-term rates, market relationships (e.g., the yield curve) are unlikely to be distorted by other concurrent monetary policy measures.
Which of Josh Knight’s statements regarding negative short-term rates is most likely correct?
选项：
A.Only Statement 1 is correct B.Only Statement 2 is correct C.Both statements are correct
解释：
Correct Answer: A
Statement 1 is correct. When short-term rates are negative, the long-run equilibrium short-term rate can be used as the risk-free rate, rather than the observed negative rate.
Statement 2 is incorrect. Market relationships (e.g., the yield curve) are likely to be distorted by other concurrent policy measures such as quantitative easing.
中文解析:
表述一是正确的。当短期利率为负时，可以使用长期均衡短期利率作为无风险利率，而不是观察到的负利率。
表述二不正确。市场关系(如收益率曲线)可能会被其他同步的政策措施(如量化宽松)扭曲。
请问表述二是什么意思
