问题补充:
单项选择题:
All else being equal, in a rising interest rate environment, the price of a floating-rate security will mo.st likely decline if:
A. there is no cap.
B. the margin required by investors declines.
C. the coupon is reset every six months rather than monthly.
答案:
答案:C
解析: 如果没有利率顶(CAP)就会降低利率风险,利率上升,息票率也随之上升,价格不会下跌。如果投资者要求的收益差(margin)减少,会提高浮动利率债券的价格,而不是降低。息票每6个月设定一次而不是每个月设定一次,在利率上升的情况下,浮动利率证券无法反映最新的市场利率,会造成其价格下跌。
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