陈同学2021-03-21 11:34:51
老师,关于第一个statement,我是这样理解的:若senior和equity tranche同时违约,买equity因为便宜;若同时不违约,买equity,因为收益高。mezzanine与equity更像,所以mezzanine的value相较senior提高。 但,为什么mezzanine的value相较equity也提高?不应该是equity更attractive吗?
回答(1)
Nicholas2021-03-22 10:34:23
同学,早上好。
这里协会勘误了,内容如下,
In the information for Questions 10-15, after “Easton:” (page 300 of print) should read, “If the correlation of the expected defaults on the CDO collateral of the senior and subordinated traches is positive, the relative value of the equity tranche compared with the senior and mezzanine tranches will increase.”
In the solution to Question 15 (page 302 of print), the last sentence should read, “As correlations increase, the values of the equity tranches usually increase relative to the values of the senior and mezzanine tranches.”
致正在努力的你,望能解答你的疑惑~
如此次答疑能更好地帮助你理解该知识点,烦请【点赞】。你的反馈是我们进步的动力,祝你顺利通过考试~
- 评论(0)
- 追问(0)
评论
0/1000
追答
0/1000
+上传图片