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小小悟空yu · 2020年11月17日

问一道题:NO.PZ202001210200000108 第8小题 [ CFA III ]

* 问题详情,请 查看题干

问题如下:

Based on Observation 3, Wakuluk most likely expects Country Y’s yield curve in the near term to:

选项:

A.

invert

B.

flatten

C.

steepen

解释:

C is correct. The current yield curve for Country Y suggests that the business cycle is in the slowdown phase (curve is flat to inverted), with bond yields starting to reflect contractionary conditions (i.e., bond yields are declining). The curve will most likely steepen near term, consistent with the transition to the contractionary phase of the business cycle, and be the steepest on the cusp of the initial recovery phase.

解析:

Y国目前的收益率曲线表明,商业周期正处于放缓阶段(曲线从平向反方向),债券收益率开始反映出紧缩的状况(债券收益率正在下降)。这条曲线在短期内很可能会变陡,与商业周期向收缩阶段的过渡保持一致,并在初始复苏阶段的尖端变得最陡。

所以只有C选项正确。

请问inverted是出现在peak阶段,steepen出现在谷底准备上升阶段。是吗
1 个答案

源_品职助教 · 2020年11月17日

嗨,爱思考的PZer你好:


inverted 是发生在SLOWDOWN阶段

STEEPEN是发生在CONTRACTION阶段


-------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!


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