NO.PZ2021120102000025
问题如下:
Which of the following credit portfolio positioning strategies is the most appropriate to underweight the financial sector versus an index?
选项:
A.Purchase protection on the CDX and sell protection on the CDX
Financials subindex.
Sell protection on the CDX and purchase protection on the CDX Financials subindex.
Purchase a payer option on the CDX and sell protection on the CDX Financials subindex.
解释:
B is correct. Selling protection on the CDX index is a “long” credit spread risk position, while purchasing protection on the CDX Financials subindex is a “short” credit spread risk position, leaving the investor with a long index position without exposure to financial reference entities in the CDX index. Both A and C increase exposure to financial sector issuers.
请问这道题可以理解成增加financial sector exposure所以我要long bond on financial sector,因此sell protection吗