作者lis2318 (人的相识都有起点和终点)
看板CFAiafeFSA
标题[问题] CFA3级的问题....
时间Fri Apr 24 16:27:12 2009
在教材第4本有关fixed-incom portfolio之中,在immunization策略下有提到
,immunization target rate of return is less than yield to maturity if the
yield cure is upward-sloping; immunization target rate of return is larger
than yield to maturity if the yield curve is downward-sloping because the
higher reinvestment return.
想请问,为什麽在downward-sloping的yield curve下,reinvestment rate is higher; 而
upward-sloping yield curve, reinvestment return is lower?
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◆ From: 140.112.4.234
1F：推 Engedi:你得配合负债的到期日作再投资，无法投资那麽长期的资产了. 04/24 19:07
2F：→ lis2318:刚才好不容易想通了,大概懂了，谢谢你的回答 04/25 17:47