NO.PZ2023040601000065
问题如下：
One interpretation of an upward sloping yield curve is that the returns to short-dated bonds are:
选项：
A.
uncorrelated with bad times.
B.
more positively correlated with bad times than are returns to long-dated bonds.
C.
more negatively correlated with bad times than are returns to long-dated bonds.
解释：
One interpretation of an upward sloping yield curve is that returns to short-dated bonds are more negatively correlated with bad times than are returns to long-dated bonds. This interpretation is based on the notion that investors are willing to pay a premium and accept a lower return for short-dated bonds if they believe that long-dated bonds are not a good hedge against economic “bad times”.
讲义上写的明明是如果expect interest rate to decline, these expectations caused the UK’s yield curve to be downward sloping or inverted.
为什么答案里说是upward啊
