frr07172017-11-09 13:21:41

老师好, 这是协会的练习题. 我没明白, 麻烦解释下为什么. 谢谢 Q. The maturity effect is least likely to hold for a: A. low-coupon, long-term bond trading at a discount. B. zero-coupon bond. C. low-coupon, long-term bond trading at a premium. Solution A is correct. In some situations, the maturity effect may not hold for a low-coupon bond that is trading below par. B is incorrect because the maturity effect will always hold for a zero-coupon bond. C is incorrect because the maturity effect will hold for a low-coupon bond that is trading above par. Introduction to Fixed-Income Valuation Learning Outcome Identify the relationships among a bond’s price, coupon rate, maturity, and market discount rate (yield-to-maturity)