请问以下的这个答案怎么理解？ 为什么第一个国家的bond yield 是被低估的？是因为长期看 汇率应该和利率一直么？ 所以当汇率被低估意味着利率业被低估了？谢谢谢谢
A is incorrect because Kumar’s first point regarding Chilean bonds is a true statement. If a country’s exchange rate is severely undervalued and is expected to rise substantially against another country’s, then bond yields in the first country will be lower than they would otherwise be in relation to the other country. Since Chile’s exchange rate relative to Great Britain’s is undervalued, we would expect the Chilean bond yields to be lower than they should be as compared to the yields on the British bonds.
