首页 | 学习中心 | 注册 登录
返回列表 发帖
kasinkei

UID
223330 
帖子
360 
主题
131 
注册时间
2011-7-11 
最后登录
2013-8-18 
1# 跳转到 » 倒序看帖
打印
tT
发表于 2013-4-22 05:44 | 只看该作者

spread products

all, she, products, mortgage, manager
hi i read somewhere that if a manager expects spreads to narrow for all spread product sectors , she should underweigh treasuries and overweight allocations to spread products such as mortgage, asset-backed and CMBS sectors.
do credit sectors not belong to spread products?
thanks!
收藏 分享

wizofoz

Rank: 2

UID
223399 
帖子
290 
主题
8 
注册时间
2011-7-11 
最后登录
2014-8-6 
2#
发表于 2013-4-22 05:44 | 只看该作者
Except for US Treasuries, all bonds are spread products.

TOP

Makavelim3

Rank: 2

UID
223221 
帖子
220 
主题
183 
注册时间
2011-7-11 
最后登录
2013-10-10 
3#
发表于 2013-4-22 05:44 | 只看该作者
even equities are technically spread products (dividend yield + growth over Rf).
typically wen spreads narrow it basically means the market is putting risk on.  HY debt offerrings are getting done.  LBOs and heavily levered companies are able to refinance.  markets are rallying, spreads are narrowing and everyone is putting risk on.
when spreads blow out (widen) everyone is taking risk off and getting conservative w/ their risk exposure.  yields widen, etc.

TOP

stockjaguar

Rank: 2

UID
223363 
帖子
241 
主题
53 
注册时间
2011-7-11 
最后登录
2014-7-1 
4#
发表于 2013-4-22 05:45 | 只看该作者
yellayella wrote:
hi i read somewhere that if a manager expects spreads to narrow for all spread product sectors , she should underweigh treasuries and overweight allocations to spread products such as mortgage, asset-backed and CMBS sectors.
do credit sectors not belong to spread products?
thanks!
that answer included an extra 75 bps rising of IR in the long-term part of the yield curve and a 25 bps rise in the short-term part of the curve.
that’s why they said that treasuries (LT) should be underweighted as they were expected to decrease with IR increase.
MOCK 2010 Item set Q36

TOP

返回列表