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- UID
- 223370
- 帖子
- 289
- 主题
- 47
- 注册时间
- 2011-7-11
- 最后登录
- 2014-7-24
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OAS with issuer spot rate as bench mark
page 289 exibit 1
States that if the bench mark is the issuers own securities
and you have a positive OAS, the security is underpriced...
back on page 287, we are told that OAS with issuer spot curve reflects liquidy risk...
THUS, can we realy conclude that a positive OAS meens underpriced...
that positive OAS could be reflecting liquidy differences...? |
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发表于 2011-7-11 19:24
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