金程問(wèn)答
OID是什么
國(guó)債利率升高是什么原因？對(duì)未來(lái)意味著什么？
reading40百題第25，解析說(shuō)的是從投資人角度，沒(méi)錯(cuò)sinking fund是降低的違約風(fēng)險(xiǎn)， 但是題目是以發(fā)行方的角度編寫的，“when issuing debt。。。”那么不能說(shuō)設(shè)立了sinking fund provision 就是可以避免自己因?yàn)樾庞迷u(píng)級(jí)降低導(dǎo)致發(fā)行債券的利率變高嗎，因?yàn)樘崆鞍磒rovision贖回了部分的本金， 所以降低了利率風(fēng)險(xiǎn)？
reading40百題第18題里， 為什么說(shuō)price changes of floaters are far less pronounced than those of fixed-rate bonds? 本能的反應(yīng)是因?yàn)閒loater的利率一直在變化，比如每3個(gè)月，那么相應(yīng)的價(jià)格變化也就每季度變一次， 會(huì)比其他類型的債券頻繁，不對(duì)嗎？
Fixed income百題reading 40第12道， 不是說(shuō)債券的二級(jí)市場(chǎng)主要是dealer market嗎？ 意思是說(shuō)即便個(gè)人可以從dealer那里買賣債券，但是整個(gè)OTC市場(chǎng)的主要跟dealer進(jìn)行交易的還是機(jī)構(gòu)投資者？
請(qǐng)問(wèn)可以再解釋一下PAC結(jié)構(gòu)嗎？利率上升和下降分別對(duì)各層級(jí)有什么影響呢？
老師關(guān)于Q52我有個(gè)問(wèn)題，鑒于Q52的計(jì)算量很大，我想到一個(gè)新的解題思路；因?yàn)镕orwardRate和Spot Rate可以互相轉(zhuǎn)換，我能否將題目中5個(gè)period的eachforwardrate+1相乘寫出來(lái)為：（1+SpotRate）的五次方=1.105*1.025*1.033*1.039*1.043得出來(lái)的Spot Rate約為3.1%然后帶入計(jì)算器求出來(lái)的值PV為106.9396近似題目的B選項(xiàng)：107.03所以得出答案選B？
計(jì)算A的AOR的時(shí)候?yàn)槭裁词怯?65/90不是他自己的basis360呢？所以這道題其實(shí)要比的是BEY？如果C選項(xiàng)的basis是360，整道題是比較AOR還是BEY呢？
B選項(xiàng)只得是bank嗎？A是issuer？
For a long-term, zero-coupon bond, which of the following factors contributes to heightened difference between the bond’s yield convexity and curve convexity? A flat yield curve A price at or near par A long time to maturity 想問(wèn)下這道題怎么理解？講義上貌似沒(méi)有
For an option-free bond, effective duration: a.will be equal to modified duration if the yield curve is absolutely flat. b.measures interest rate risk for both parallel and non-parallel benchmark yield curve shifts. c.is an estimate of the percentage change in bond price given a change in the bond’s yield to maturity. 老師好，能幫忙講解一下這道題嗎為什么只有當(dāng)yield curve是平行于x軸的時(shí)候effective duration才等于modified duration呢？
這道題可以說(shuō)一下嗎
Which of the following accounting issues should mostly likely be considered a character warning flag in credit analysis? a.Expensing items immediately b.Changing auditors infrequently c.Significant off-balance-sheet financing老師，想問(wèn)下這題為什么選c??？
Credit risk of a corporate bond is best described as the: a.risk that an issuer’s creditworthiness deteriorates. b.probability that the issuer fails to make full and timely payments. c.risk of loss resulting from the issuer failing to make full and timely payments.老師好，想問(wèn)下這道題為什么不能選b??？
moneyduration為什么不能直接用macduration去推導(dǎo)？
程寶問(wèn)答
