为什么经济上升周期后期，周期性资产表现不佳？

问题如下：

Based on Exhibit 1, what capital market effect is Country Z most likely to experience in the short-term?

选项：

A.Cyclical assets attract investors B.Monetary policy becomes restrictive C.The yield curve steepens substantially

解释：

Correct Answer: B

Wakuluk’s model predicts that Country Z’s business cycle is currently in the late upswing phase. In the late upswing phase, interest rates are typically rising as monetary policy becomes more restrictive. Cyclical assets may underperform, whereas the yield curve is expected to continue to flatten.

正确答案:B

Wakuluk的模型预测，Z国的商业周期目前处于上升后期。在经济上升阶段的后期，随着货币政策变得更加严格，利率通常会上升。周期性资产可能表现不佳，而收益率曲线预计将继续趋平。