葛同學(xué)
2018-01-30 23:27reading53，p223，第九題 沒(méi)看懂題意，考點(diǎn)是什么？cupon effect maturity effect是什么意思
所屬：CFA Level I 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
金融慕播課賀老師助教
2018-01-31 09:55
該回答已被題主采納
同學(xué)你好，這道題考察的是coupon effect。這個(gè)知識(shí)點(diǎn)我們上課學(xué)過(guò)，你可能只記住了具體知識(shí)點(diǎn)，沒(méi)有記住名稱。
一共有4個(gè)effect，你可以理解一下。這道題直接根據(jù)第三條進(jìn)行判斷就可以。
1.The bond price is inversely related to the market discount rate. When the market discount rate increases, the bond price decreases (the inverse effect).
2.For the same coupon rate and time-to-maturity, the percentage price change is greater (in absolute value, meaning without regard to the sign of the change) when the market discount rate goes down than when it goes up (the convexity effect).
3.For the same time-to-maturity, a lower-coupon bond has a greater percentage price change than a higher-coupon bond when their market discount rates change by the same amount (the coupon effect).
4.Generally, for the same coupon rate, a longer-term bond has a greater percentage price change than a shorter-term bond when their market discount rates change by the same amount (the maturity effect).
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