这里真实的债务值，为什么是下降？

Board member Arnold Brown asks O’Reilly about the use of high-frequency (daily) data in developing capital market expectations. O’Reilly answers, “Sometimes it is necessary to use daily data to obtain a data series of the desired length. Ironically, high-frequency data improves the precision of sample variances, covariances, and correlations but not the precision of the sample mean. High-frequency data are more sensitive to asynchronism across variables.”怎么理解关于high-frequency (daily) data 这段话？

Special situation 特殊情景投资也可以包括兼并收购吗

Eastland and Northland (with currencies pegged to each other) will share the same yield curve if two conditions are met. First, unrestricted capital mobility must occur between them to ensure that risk-adjusted expected returns will be equalized. Second, the exchange rate between the currencies must be credibly fixed forever. Thus, as long as investors believe that there is no risk in the future of a possible currency appreciation or depreciation, Eastland and Northland will share the same yield curve. A shift in investors’ belief in the credibility of the fixed exchange rate will likely cause risk and yield differentials to emerge. This situation will cause the (default-free) yield curve to differ between Eastland and Northland. 这段话说的是什么意思，总结下来是三元悖论哪个不满足？

这个公式得出的是标准合约的份数啊，他不是CTD的份数啊

fiscal policy 如何影响 yield curve的shape?

Q4，comparable company analysis provide an estimate of the fair stock price，这么描述是对的？那可比公司法提供了什么呢？（相同的描述逻辑下）

这里公式左侧除以CTD对duration，右侧又转化为标准券的金额？也不合适啊？为什么要除以CF？

为什么期限越长票面利率更高？

根据市值加权的话 不是正适合成熟的发高股利的公司吗 还是觉得B挺对的