如题

问题如下：

A decrease in the prices of AAA-rated corporate bonds during a recession would most likely be the result of:

选项：

A.

expectations of higher inflation.

B.

increases in credit risk premiums.

C.

increases in short-term, default-free interest rates.

解释：

B is correct.

During recessions, the risk premium that investors demand on financial assets, particularly those that are not default-free, such as corporate bonds, may rise because investors in general may be less willing and able to take on heightened default risk during such periods.

Specifically, the credit risk premium demanded by investors tends to rise in times of economic weakness, when the probability of a corporate default and bankruptcy is highest.