NO.PZ202504240100010002
问题如下：
Based on the data in Exhibit 1 and the yield to maturity quoted by the dealer referenced in Module 2, what action should an analyst most likely take with regard to the Treasury bond?
选项：
A.Buy B.Sell C.Hold解释：
Solution
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A is incorrect because the YTM of 7.89% is more expensive than, not cheaper than, the calculated fair value of the bond of 8.14%.
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B is correct. The quoted YTM of 7.89% is more expensive (price = $87.08) than the YTM based on the spot rates of 8.14% (price = $86.34), the analyst should sell the bond.
C is incorrect because YTM of 7.89% is more expensive than, not equal to, the calculated fair value of the bond of 8.14%.
如题
