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FRM一级
包含FRM一级传统在线课程、通关课程及试题相关提问答疑;
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老师您好,我想问一下为什么这个题目不能按照我铅笔所写的那种方法来考虑,就把每一个选项都算出来,然后就只有a选项是大于零的(我记得百题中有一道box的题目,梁老师在讲解时就用了类似这样的方法。)为什么要选择c呢?
Bonds issued by XYZ Corp. are currently callable at par value and trade close to par. The bonds mature in 8 years and have a coupon of 8%. The yield on the XYZ bonds is 175 basis points over 8-year US Treasury securities, and the Treasury spot yield curve has a normal, rising shape. If the yield on bonds comparable to XYZ bond decreases sharply, the XYZ bonds will most likely exhibit: A. Negative convexity B. Increasing modified duration C. Increasing effective duration D. Positive convexity
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