老师第六题没听懂，帮忙分析解答一下

嗨，努力学习的PZer你好：

这道题让我们求的是低买高卖两个credit spread能赚多少差价。

Deem Advisors' chief credit analyst recently reported that Tollunt Corporation's five-year bond is currently yielding 7% and a comparable CDS contract as a credit spread of 4.25%. Since MRR is 2.5%。

①通过这句话，我们可以得到bond market credit spread=7%-2.5%=4.5%，公司债的利率减去市场利率，即债券市场的Credit spread为7%-2.5%=4.5%。

②CDS市场的Credit spread是4.25%，这个是题目已知条件。

③有了这两个Credit spread之后，将两个spread相减，就是profit=4.5%-4.25%=0.25%

----------------------------------------------
虽然现在很辛苦，但努力过的感觉真的很好，加油！