如果对面BOND#2呢

问题如下：

6. All else being equal, a rise in interest rates will most likely result in the value of the option embedded in Bond #3:

选项：

A.

decreasing.

B.

remaining unchanged.

C.

increasing.

解释：

C is correct.

Bond #3 is a putable bond, and the value of a put option increases as interest rates rise. At higher interest rates, the value of the underlying option-free bond (straight bond) declines, but the decline is offset partially by the increase in the value of the embedded put option, which is more likely to be exercised.