huha2021-02-03 18:08:25

老师，问个问题，consider bonds that have the same yield to maturity and maturity. the bond with the greatest reinvestment risk is most likely the one selling at par? discount? or premium? 这道题问的reinvestment risk是指的coupon reinvestment risk?还是其他什么？我理解的是由于premium的coupon rate高于市场r，所以当市场利率下降的时候coupon reinvestment risk是大于其他类型债券的,这么理解有问题么？还是说bond price的价格P由于市场利率r的变动而导致的风险叫做reinvestment risk? 由于利率下降的越多，再投资的风险就越大？