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宇宙球求 · 2024年05月20日

所以如何什么阶段可以是flatten 的呢?

NO.PZ2018091901000054

问题如下:

Neshie Wakuluk is an investment strategist. Exhibit 1 summarizes Wakuluk’s predictions:

Wakuluk decides to focus on Country Y. Wakuluk makes the following observations:

Observation 3 The current yield curve for Country Y suggests that the business cycle is in the slowdown phase, with bond yields starting to reflect contractionary conditions.

Based on Observation 3, Wakuluk most likely expects Country Y’s yield curve in the near term to:

选项:

A.

invert.

B.

flatten.

C.

steepen

解释:

C is correct.

The current yield curve for Country Y suggests that the business cycle is in the slowdown phase (curve is flat to inverted), with bond yields starting to reflect contractionary conditions (i.e., bond yields are declining). The curve will most likely steepen near term, consistent with the transition to the contractionary phase of the business cycle, and be the steepest on the cusp of the initial recovery phase.

解析:

Y国目前的收益率曲线表明,商业周期正处于放缓阶段(曲线从平向反方向),债券收益率开始反映出紧缩的状况(债券收益率正在下降)。这条曲线在短期内很可能会变陡,与商业周期向收缩阶段的过渡保持一致,并在初始复苏阶段的尖端变得最陡。

所以只有C选项正确。

如题

2 个答案
已采纳答案

源_品职助教 · 2024年05月21日

嗨,努力学习的PZer你好:


在经济扩张的晚期阶段,收益率曲线呈现FLATTEN的趋势,因为此时货币政策可能会紧缩,导致短期利率上升。而长期利率比短期利率上升的慢(长期利率受到短期利率传导影响),所以会导致收益率曲线变平。

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

宇宙球求 · 2024年05月22日

谢谢

源_品职助教 · 2024年05月23日

嗨,努力学习的PZer你好:


不客气,同学继续加油~

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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NO.PZ2018091901000054 问题如下 Neshie Wakuluk is investment strategist. Exhibit 1 summarizes Wakuluk’s prections:Wakuluk cis to focus on Country Y. Wakuluk makes the following observations:Observation 3 The current yielcurve for Country Y suggests ththe business cycle is in the slowwn phase, with bonyiel starting to reflecontractionary contions.Baseon Observation 3, Wakuluk most likely expects Country Y’s yielcurve in the neterm to: invert. B.flatten. C.steepen C is correct. The current yielurve for Country Y suggests ththe business cycle is in the slowwn phase(curve is flto inverte, with bonyiel starting to reflecontractionarycontions (i.e., bonyiel are clining). The curve will most likelysteepen neterm, consistent with the transition to the contractionary phaseof the business cycle, anthe steepest on the cusp of the initirecoveryphase. 解析Y国目前的收益率曲线表明,商业周期正处于放缓阶段(曲线从平向反方向),债券收益率开始反映出紧缩的状况(债券收益率正在下降)。这条曲线在短期内很可能会变陡,与商业周期向收缩阶段的过渡保持一致,并在初始复苏阶段的尖端变得最陡。所以只有C正确。 在slowwn阶段,因为央行加息或者加准,短期利率很高,yielcurve变平,则下一个阶段可能是降准降息,曲线steepen。但如果slowwn阶段曲线invert了,他降低短期利率至少得先变平,再变陡峭,此题没考虑这种情况

2024-07-27 16:57 1 · 回答

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2024-04-05 10:38 1 · 回答

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2024-04-03 16:53 1 · 回答

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