国债的consumption hedging benefit是什么

问题如下：

Which one of Simmons’ factors is most likely accurate with regard to investors influencing the future shape of the yield curve?

选项：

A.Inflation premiums

B.Bond risk premiums

C.Policy rate expectations

解释：

A is correct. Simmons’ forecast is supported by increasing inflation premiums for longer dated bonds. Many factors can influence an upward sloping yield curve, including higher risk premiums as maturities increase.

B is incorrect. An upward sloping curve would be associated with bond risk premiums that are positively, not negatively, related to the consumption hedging benefits of government bonds.

C is incorrect. Investor expectations for declining policy rates are more likely to result in an inverted yield curve, not an upward sloping curve.