蘇同學
2021-03-14 22:41投資一個covered bond跟投資一個abs比收益是多還是少？為什么？我知道跟一個普通bond比肯定是少，因為多了一層保險。那abs怎么分析？
所屬：CFA Level III > Fixed-Income Portfolio Management 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個回答
Chris Lan助教
2021-03-15 16:45
該回答已被題主采納
同學你好
第二個statement說，投資于covered bond會有更高的收益，這是錯的，因為有抵押的債券更安全，更安全融資成本必然低一些，所以作為債券投資者收益是不高的。
原版書中關(guān)于ABS的描述很少，原文如下，你可以參考一下。這塊如果考核，頂多考你這幾句話中提到的東西。
Several types of non-mortgage assets are used as collateral for ABS, including automobile loans, automobile lease receivables, credit card receivables, student (or other personal) loans, bank loans, and accounts receivable.
In addition to possible portfolio diversification and return benefits, ABS may provide a way for investors to express views on consumer credit. At the end of 2015, the credit card and auto loan components of the Bloomberg Barclays US Aggregate Index together had a market value of more than $97 billion, and the Consumer Cyclical Services sector of the index had a market value of about $51 billion. ABS are more-liquid alternatives to corporate bonds for expressing views on some sectors.
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