丹同學(xué)
2022-05-17 03:55請(qǐng)問(wèn)這句話關(guān)于Factor approach 怎么理解？是要取通脹這個(gè)因子， 為什么不是Long TIPS short treasury bond呢？ “Inflation. Going long nominal Treasuries and short inflation-linked bonds isolates the inflation component.” Excerpt From 2022 CFA Program Level III Volume 1 Behavioral Finance, Capital Market Expectations, and Asset Allocation CFA Institute This material may be protected by copyright.
所屬：CFA Level III > Asset Allocation and Related Decisions in Portfolio Management 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
2022-05-17 14:51
該回答已被題主采納
同學(xué)你好，inflation factor是指通常會(huì)對(duì)該債券的收益產(chǎn)生影響。Inflation-linked bond指的是coupon或本金隨著通脹的變動(dòng)而變動(dòng)，使得債券的實(shí)際收益率不受通脹影響，也就是說(shuō)他不受inflation factor的影響。反之，名義債券的實(shí)際收益率會(huì)由于通脹上升而下降，它就會(huì)受到inflation的影響，因此他會(huì)包含有通脹因子，于是要提取通脹因子就是long名義債券，short TIPS
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