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蛋黄也酥酥 · 2021年05月07日

这里interest rate is stable 的含义

  1. CFA II
  2. Fixed Income

* 问题详情，请 查看题干

NO.PZ201701230200000202

问题如下：

2. In presenting Investment 1, using Shire Gate Advisers’ interest rate outlook, Smith could show that riding the yield curve provides a total return that is most likely:

选项：

A.

lower than the return on a maturity-matching strategy.

B.

equal to the return on a maturity-matching strategy.

C.

higher than the return on a maturity-matching strategy.

解释：

C is correct.

When the spot curve is upward sloping and its level and shape are expected to remain constant over an investment horizon (Shire Gate Advisers’ view), buying bonds with a maturity longer than the investment horizon (i.e., riding the yield curve) will provide a total return greater than the return on a maturity-matching strategy.

我以为是yield curve 不会upward，会是flat的，所以就选择return 低于。所以stable unchange的意思就是upward的嘛

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WallE_品职答疑助手 · 2021年05月08日

嗨，从没放弃的小努力你好：


interest rate is stable的意思是现在收益率曲线是什么样， 之后收益率曲线还是一样的。比如原来是upward， 现在也是upward，这叫stable. 原来是flat，现在也是flat，这样也叫stable.

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虽然现在很辛苦，但努力过的感觉真的很好，加油！

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