问题如下图：
选项：
如果本题不是永续债券，在其他条件一致的情况下，是不是认为b的duration更小。
A. 
B. 
C. 
D. 
解释：
NO.PZ2016082402000010问题如下 A anB are two perpetubon; this, their maturities are infinite. A ha coupon of 4% anB ha coupon of 8%. Assuming thboth are trang the same yiel whcsaiabout the ration of these bon? The ration of A is greater ththe ration of The ration of A is less ththe ration of A anB both have the same ration. None of the above. ANSWER: CGoing bato the ration equation for the consol , =1+yyC=\frac{1+y}y=y1+y, we see thit es not penon the coupon but only on the yiel Hence, the rations must the same. The priof bonhowever, must half thof bonB.解析A与B都是永续债券，他们的期限是无穷大的，A的coupon rate是4%，B的coupon rate是8%，假设yiel同，他们的ration？选C，相同。永续年金的ration等于(1+y)/y。 为什么一般债券coupon越高小
NO.PZ2016082402000010问题如下 A anB are two perpetubon; this, their maturities are infinite. A ha coupon of 4% anB ha coupon of 8%. Assuming thboth are trang the same yiel whcsaiabout the ration of these bon? The ration of A is greater ththe ration of The ration of A is less ththe ration of A anB both have the same ration. None of the above. ANSWER: CGoing bato the ration equation for the consol , =1+yyC=\frac{1+y}y=y1+y, we see thit es not penon the coupon but only on the yiel Hence, the rations must the same. The priof bonhowever, must half thof bonB.在讲义中没有看到~
如果是一般债券，coupon作分子，不应该coupon更大ration更高？
