李同學(xué)
2025-02-25 09:24為什么此公司債與T-bills的maturity相似就不需要考慮term risk？
所屬：CFA Level I > Quantitative Methods 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
2個(gè)回答
Essie助教
2025-02-25 10:15
該回答已被題主采納
同學(xué)你好，因?yàn)閠erm risk本身就是因?yàn)闀r(shí)間上的差異而產(chǎn)生的額外風(fēng)險(xiǎn)，時(shí)間都相似了，自然不用考慮term risk。
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180****8696
2025-02-25 19:15該回答已被題主采納
If a company's bond has a maturity similar to that of T-bills (Treasury bills), it may not require consideration of term risk because term risk primarily arises from the uncertainty associated with changes in interest rates over a longer time horizon. Treasury bills, being short-term instruments (usually under a year), are less sensitive to interest rate fluctuations compared to longer-term bonds. Similarly, if the company's bond has a similar short maturity, its exposure to interest rate changes and the associated risk (term risk) would be minimal, as the bond's price would not be as heavily impacted by shifts in long-term interest rates. In this case, the bond would behave more like a T-bill, with its primary risk factors being credit risk and liquidity risk, rather than term risk.
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