Leo Deng
2021-11-21 04:30老師mock1上午題第3個case,短期利率上升，我寫的是緊縮的貨幣政策；government bond yield我寫的是flight to quality, 因為經(jīng)濟預期不好，開始拋股票買入安全資產(chǎn)，導致債券價格上升，收益下降。這么寫可以么？還是說必須按答案說得來寫？
所屬：CFA Level III > Capital Market Expectations 視頻位置 相關試題
來源： 視頻位置 相關試題
1個回答
Johnny助教
2021-11-23 20:23
該回答已被題主采納
同學你好，不建議用你的回答。對于定性寫作題，答案通常是原版書的原話描述，因此我們在回答一些概念或是結論性題目時的滿分答案就是原版書的原話。對于slowdown階段，原版書是如此描述的：
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.
對照就可以看出答案就是取自于原版書原話
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