Leo Deng
2021-11-21 04:30老師mock1上午題第3個(gè)case,短期利率上升，我寫(xiě)的是緊縮的貨幣政策；government bond yield我寫(xiě)的是flight to quality, 因?yàn)榻?jīng)濟(jì)預(yù)期不好，開(kāi)始拋股票買入安全資產(chǎn)，導(dǎo)致債券價(jià)格上升，收益下降。這么寫(xiě)可以么？還是說(shuō)必須按答案說(shuō)得來(lái)寫(xiě)？
所屬：CFA Level III > Capital Market Expectations 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
Johnny助教
2021-11-23 20:23
該回答已被題主采納
同學(xué)你好，不建議用你的回答。對(duì)于定性寫(xiě)作題，答案通常是原版書(shū)的原話描述，因此我們?cè)诨卮鹨恍└拍罨蚴墙Y(jié)論性題目時(shí)的滿分答案就是原版書(shū)的原話。對(duì)于slowdown階段，原版書(shū)是如此描述的：
The economy is slowing and approaching the eventual peak, usually in response to rising interest rates, fewer viable investment projects, and accumulated debt. It is especially vulnerable to a shock at this juncture. Business confidence wavers. Inflation often continues to rise as firms raise prices in an attempt to stay ahead of rising costs imposed by other firms doing the same.
Short-term interest rates are high, perhaps still rising, but likely to peak. Government bond yields top out at the first clear sign of a slowing economy and may then decline sharply. The yield curve may invert, especially if the central bank continues to exert upward pressure on short rates. Credit spreads, especially for weaker credits generally widen. The stock market may fall, with interest-sensitive stocks such as utilities and “quality” stocks with stable earnings performing best.
對(duì)照就可以看出答案就是取自于原版書(shū)原話
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