為什么paul和Jessica的例子中計(jì)算disability coverage 用的是BGN 模式，這里沒有用BGN模式？
超額收益那兩個(gè)公式，預(yù)期超額收益多了違約概率。還有別的區(qū)別嗎？我的意思是有沒有用法的區(qū)別。
老師，評(píng)級(jí)高用duration+凸性那個(gè)公式算價(jià)格變化百分比。評(píng)級(jí)低的用dts*spread變化百分比，就沒有凸性那個(gè)部分了對(duì)吧。
Q4,題目說投資者doesn't feel there is sufficient liquidity in the related FX. 發(fā)展中國(guó)家本來就是thinly traded, 不應(yīng)該擔(dān)心流動(dòng)性問題？也就是volatility risk?
你好老師，投資期限長(zhǎng)的不是稅收相對(duì)較低嗎？為什么屬于inefficient的范疇
額…老師…這不是baebell的意思是么…
這個(gè)題錯(cuò)了吧老師。A對(duì)吧…
老師，為什么在計(jì)算所有者權(quán)益久期時(shí)，負(fù)債端部分，Liability Duration要乘以（?i / ?y）呢？請(qǐng)?jiān)敿?xì)講解一下，謝謝。
Mattock, head of research dept. of H&V, a brokerage firm, has decided to change recommendation for Timber from buy to sell. In line with H&V’s procedures, she orally advises other executives of recommendation change before publication. After her conversation with Frampton, one of the executives of H&V, Frampton immediately sells (front running) Timber stock from his own account and some discretionary client accounts. Other personnel also inform certain institutional customers of the changed recommendation before publication and dissemination to all H&V customers. Comment: Mattock violated Standard IV (C) by failing to supervise reasonably and adequately the actions of those accountable to her. She also must ensure that her firm has adequate procedures for unethical practice. Meanwhile, violate II(A), VI(B) Priority of Transaction. 請(qǐng)問為什么 違反了II(A) 投資公司的recommendation 難道算是MNI 嗎？這里公司將消息提前傳達(dá)給了一些客戶，但為什么又沒有違反III(B) ?
老師，callable=pure-call option對(duì)么。對(duì)于買債權(quán)的人來說，是只有義務(wù)，以X被買回的義務(wù)。當(dāng)波動(dòng)率升高，call貴，賣出call可以收更多期權(quán)費(fèi)。對(duì)嗎
波動(dòng)率下降，一是依然通過賣call賺期權(quán)費(fèi)，二是callable更便宜，因?yàn)関alue上來看是pure-call，對(duì)么
書上寫的是level調(diào)整看duration就行。這道題解析是要考慮凸性。在什么情況下使用本公式？
這里的taxpayer指的是政府嗎而不是納稅個(gè)人？
老師，money duration 是pvbp的100倍嗎
老師，請(qǐng)幫忙解釋一下這里的4小題，謝謝。
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