问题如下：
7 Based on Exhibit 2, if Carlisle’s prediction for Country #3 is realized, then over the next 12 months:
选项：
A.Bond A would be expected to outperform Bond C.
B.Bond B would be expected to outperform Bond A.
C.Bond C would be expected to outperform Bond B.
解释：
A is correct.
If Country #3 experiences a recession over the next 12 months, the credit spreads for corporate bonds would be expected to widen as investors sell the low-quality debt of issuers with high default risk and trade up to the higher-quality debt of issuers with low default risk. The issuers with a good credit rating (like Aaa rated Bond A) tend to outperform those with lower ratings (like B3 rated Bond C) as the spread between low and higher quality issuers widens. As a result, Bond A would be expected to outperform Bond C over the next 12 months
考点：Credit Premiums and The Business Cycle
解析: 当经济衰退时，评级高的债券表现更好。表中bond A评级最高，因此选A。
老师，你好，想将这题和case的前一题放在一起提问，两题的前提假设都是这个prediction of country #3 is realized，那为什么前一题从复苏角度考虑，此题从在recession中债券的表现来考虑？谢谢
