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- UID
- 217987
- 帖子
- 284
- 主题
- 142
- 注册时间
- 2011-5-25
- 最后登录
- 2012-9-12
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It's not really about short have some gain, it's about the spread....during a boom, interest rate spread tightens:
- Interest rates on high credit risk bonds fall (hence prices of bonds go up) so they make money
- Interest rate on treasuries go up, and hence prices drops, and they make money.
In a downturn, the opposite will happen (everyone buys treasuries and flee the risk, raising the interest on high credit risk bonds... and the spread widens... |
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发表于 2011-7-13 13:45
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