NO.PZ2023091701000053
问题如下：
Which of the following statements about a puttable bond and a callable bond is correct?
选项：
A.The put option of a puttable bond is more expensive than the call option of the callable bond. B.A puttable bond will have a lower yield than a comparable callable bond. C.The value of a callable bond increases when interest rate volatility increases. D.Long position in a puttable bond has more interest rate risk than a long position in a callable bond.解释：
Callable bond can be decomposed into a long position in a straight bond minus a call option on the bond price. Puttable bond can be decomposed into a long position in a straight bond plus a put option on bond price.
The value of a callable bond increases when interest rate volatility increases.为啥错了
