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176****1430 · 2025年06月08日

题目有些读不懂

NO.PZ2023120801000026

问题如下:

A transaction where a hedge fund enters into a repo by taking a short position in a security with a view that its price will decline relative to the price of another security held is best described as:

选项:

A.

a reverse repo

B.

a triparty repo

C.

financing the ownership of a security

解释:

Correct Answer: A

When viewed from the perspective of the security buyer (cash lender), a repo transaction is referred to as a reverse repurchase agreement or reverse repo. B is incorrect because under a triparty repo, both parties agree to use a third-party agent for the transaction. C is incorrect because financing the ownership of a security is not the purpose undertaken by the hedge fund.

relative to the price of another security held is best described as:这句话在句中是啥含义,怎么扯上了另一种债券

1 个答案

笛子_品职助教 · 2025年06月08日

嗨,努力学习的PZer你好:


relative to the price of another security held is best described as:这句话在句中是啥含义,怎么扯上了另一种债券

Hello,亲爱的同学~

持有债券组合的同时,做空某一个债券,希望做空的债券跌得更多。

这是债券基金常见操作,即债券基金需要有一个基准收益,他们会持有一个债券Portfolio。

在债券Portfolio可以提供基础收益的时候,再通过交易,争取再获得一些超额收益。

做空某一个债券就是为了获得这个超额收益。因此这里有一个对比的过程。


结合本题来说,这句话对解题来说并不重要。

本题的关键信息点是卖空(enters into a repo by taking a short position)操作。

同学问的这句话,只是卖空操作的理由。


题目问的是,在回购里做卖空这种操作,对应的是哪个专业名词。

对应“逆回购”这个名词,因此选A。


同学只需掌通过这道题握知识点:reverse repo 是taking a short position in a security 。


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