如下

1. A high corporate option-adjusted spread is bullish for corporate bond 
2. Higher implied volatility in the equity market was also bullish for corporate bond 
3. The increase in loan defaults reduces the expected return on corporate, the credit premium should increase less

这三句话都是站在预期未来的角度以及事后的角度去分析的。

考试也是这样吗？

正常理解的话，违约率增加，收益降低，应该是增加credit premium。

OAS 增加，正常也应该是risk premium增加。

考试的时候是站在什么角度分析呀？