shifts in the yield curve.代表什么

问题如下：

Changes in the required margin for a floater usually come from:

选项：

A.

shifts in the yield curve.

B.

changes in credit risk.

C.

increases or decrease in inflation.

解释：

B is correct. The required margin is the yield spread over or under a reference rate, reflecting the credit risk of an issuer. Changes in the required margin typically come from a change in the issuer’s credit risk.

A and C are incorrect. Both risks, as “top-down” or macroeconomic risks, would be reflected in changes in the MRR, not in a spread such as the required margin.