No.PZ2021120102000033 (选择题)
来源: 原版书
An active fixed-income manager is evaluating the relative performance of an investment-grade corporate versus a high-yield corporate debt allocation in a fixed-income portfolio.
Which of the following analytical model assumption changes is most likely to reduce the future value of the high-yield portfolio relative to the investment-grade holdings?
您的回答C, 正确答案是: C
A
Steepening of the benchmark yield volatility curve.
B
Decreased likelihood of an economic slowdown.
C
Increased likelihood of a flight to quality associated with bullish benchmark yield curve flattening (long-term rates fall by more than short-term rates do).
请问下A为什么不对？
