公司债的VND用的都是无风险利率来折现？

第5里提到的cash flow mutiples是什么东西呀？有什么用呢

老师，第4题是问Operatingincome，不是净利润吧？operatingincome是折旧前，理论上应该不受折旧影响？

原版书module1的EXAMPLE 8 Capital Flows and Exchange Rates的第3题. Kwan notes that the DM country is running a persistent current account deficit with the EM country. To isolate the influence of this chronic imbalance on exchange rates, she focuses only on the bilateral relationship between the EM and DM countries and makes the simplifying assumption that the external accounts of these two countries are otherwise balanced (i.e., there are no other current account deficits). Over time and all else equal, the persistent current account deficit with the EM country would most likely lead to: A. a large buildup of the EM country’s assets held by the DM country. B. an increase in the trade competitiveness of the EM country. C. an upward revision in the long-run equilibrium EM currency value. 为什么选C？

原版书module1的EXAMPLE 8 Capital Flows and Exchange Rates的第1题. All else equal, the exchange rate for the EM currency will most likely depreciate if the: A. long-run equilibrium value of the high-yield currency is revised upward. B. nominal yield spread between the EM and DM countries increases over time. C. expected inflation differential between the EM and DM countries is revised upward. 为什么选C？

怎么看出来哪个是bond哪个是strips呀

感觉固收不听基础课完全听不懂强化，其它课不是这样子的啊，为什么？

portfolio百题case2第四题怎么看是short还是long？1Y的return有0.15，0.5X+0.5Z的return有0.125，不是return越高价格越低么？

老师如果价格都无关的话用什么来判断是等价的呢？

non-granular和leveraged loan CLOs是啥？