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标题: Reading 54: Term Structure and Volatility of Interest Rates [打印本页]

作者: youzizhang 时间: 2009-3-16 17:44 标题: [2009] Session 14-Reading 54: Term Structure and Volatility of Interest Rates

LOS a: Illustrate and explain parallel and nonparallel shifts in the yield curve, a yield curve twist, and a change in the curvature of the yield curve (i.e., a butterfly shift).

Q1. Suppose that there is a nonparallel downward shift in the yield curve. Which of the following best explains this phenomenon?

A) The absolute yield increase is different for some maturities.

B) The absolute yield decrease is different for some maturities.

C) The yield decrease is the same for all maturities.

[此贴子已经被作者于2009-3-16 17:47:03编辑过]

作者: youzizhang 时间: 2009-3-16 17:47 标题: [2009] Session 14-Reading 54: Term Structure and Volatility of Interest Rates

LOS a: Illustrate and explain parallel and nonparallel shifts in the yield curve, a yield curve twist, and a change in the curvature of the yield curve (i.e., a butterfly shift). fficeffice" />

Q1. Suppose that there is a nonparallel downward shift in the yield curve. Which of the following best explains this phenomenon?

A) The absolute yield increase is different for some maturities.

B) The absolute yield decrease is different for some maturities.

C) The yield decrease is the same for all maturities.

Correct answer is B)

A nonparallel downward yield curve shift indicates an unequal yield decrease across all maturities, i.e., some maturity yields declined more than others.

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