老师：2024mock 下午case2，这两道选择不会做，颠覆了我之前的理解啊。能讲一下吗

老师，当资产配置达到最优的时候，应该是same MCTR for all assets，还是same ratio of excess return to MCTR for all assets呢？

為什麼INVESTMENT GRADE FIXED INCOME 不用看CAPITAL GAIN ＴＡＸ? 所有FIXED INCOME都只有INTERESTＩＮＣＯＭＥ ＴＡＸ嗎?

money duration 的FORMULA 是要X 0.01嗎?

ST model题目给出的liquidity risk premium是需要分别加到融合市场和割裂市场后按照融合度加权求和，还是说直接和rf一样直接最后加上去就行了？

老师，能麻烦讲解一下这个题为什么选A吗

第1题，视频讲解和答案解析不一致。应该按照哪个？

老师，这里题目说bond yields have been higher，是说DM的债券yield会上升，那债券价格应该下降，会导致capital loss才对吧？答案是说capital gain，可以帮忙看看应该怎么理解吗？谢谢

想问下这里标准答案是capital account surplus降低，current account deficit也降低。请问所谓这两个账户此消彼长是不是指的是两个账户的净值，以这里举例，current account的balance是增加的，capital account的balance是减少的？

老师您好，请问credit rating migration can cause spread risk to become realized.这句话啥意思。With respect to risk considerations for investment-grade bonds, Larent is most likely correct with respect to spread risk. Spread risk is a function of credit migration. For investment-grade bonds, the risk of credit rating migration (credit deterioration) is greater than the risk of actual credit loss. Accordingly, credit spread volatility, as opposed to outright credit default loss, is a more relevant consideration as it relates to investment-grade bonds. Spread duration measures the credit spread volatility risk in a portfolio of investment-grade bonds.