NO.PZ2020042003000085
问题如下：
Yield curve shapes have critical
implications for the investment decisions, which of the following is NOT
correct?
选项：
A. the yield curve contains an implicit forecast
of future interest rate changes. Positively sloped yield curves reflect the
average expectation in the market that future short-term interest rates will be
higher than today.
B.
Yield curves provide a clue
about overpriced and underpriced securities.
a security whose yield lies above the curve
represents a tempting sell situation.
In
the long run, yield curves send signals about what stage of the business cycle
the economy presently occupies.
解释：
考点：对Risk Management for Changing Interest
Rates: ALM and Duration Techniques-ALM
的理解
答案：C
解析：
当债券的yield位于Curve之上时，合理的策略应该是买入该债券。因此C选项表述错误。
何老师视频里面不是有说过一种情况吗，就是slope是正的，但是又比较stable，这样可以做一个ride-on-the-yield-curve，那不就是说slope咋样的，其实对未来利率的变化其实没啥关系吗？就是可以是slope正，未来不变，短期是5%,就一直是5%
