为什么不是市场分割理论

问题如下：

In 2010, the Committee of European Securities Regulators created guidelines that restricted weighted average life (WAL) to 120 days for short-term money market funds. The purpose of this restriction was to limit the ability of money market funds to invest in long-term, floating-rate securities. This action is most consistent with a belief in:

选项：

A.

the preferred habitat theory.

B.

the segmented markets theory.

C.

the local expectations theory.

解释：

Correct Answer: A

The preferred habitat theory asserts that investors are willing to move away from their preferred maturity if there is adequate incentive to do so. The proposed WAL guideline was the result of regulatory concern about the interest rate risk and credit risk of long-term, floating-rate securities. An inference of this regulatory action is that some money market funds must be willing to move away from more traditional short-term investments if they believe there is sufficient compensation to do so.